The Basics of Title Insurance

For over two decades, Attorney Marc Rovner has been on the senior staff of BETA Abstract, a multi-million dollar title insurance company in East Rockaway. Throughout his career as an attorney, Marc Rovner has received many awards, including two awards for his work in title insurance from the Stewart Title Insurance Company, a Pacesetter Award, and a Heritage Award for over 10 years of outstanding service.

Title insurance protects homebuyers from any losses that may result from problems with the title of the property. Properties often go through numerous owners over the years and a problem with any of those changes in ownership may cause trouble up to and including the loss of the property.

In most cases, title insurance is necessary if you’re taking out a mortgage to purchase a property. Title insurance, like mortgage insurance, protects both the lender but not the buyer’s equity. To protect your equity, you’ll want title insurance that covers the full value of the home.

It should be noted that title insurance only protects the policyholder against events that happened before the insurance is issued. This sharply differs from most other types of insurance which protect from claims after the policy is issued. Title insurance protects the property owner indefinitely when the property is sold, the lender will require new title insurance for the purchaser.