What is title insurance?
A title is the foundation of property ownership. It is the owner's right to possess and use that property within certain limitations. Title insurance is your policy of protection against any loss or claim against your ownership.

How does title insurance protect my ownership if a claim should arise?
If a claim is made against your property, title insurance will, in accordance with the terms of your policy, assure you of a legal defense - and pay all court costs and related fees. Also, if the claim proves valid, you will be reimbursed for your actual loss up to the face amount of the policy.

Why is transferring the title to real estate different from transferring the title of other items such as a car?
Real estate differs because land is permanent and can have many owners over the years. During the course of any one parties' ownership, liens such as a mortgage or judgment could have been recorded against the property. Title insurance insures to you that any liens have been paid off and removed as an encumbrance from the property.

Are there different types of title insurance policies?
There are two different types of title insurance policies - an owner's policy and a lender's policy. The owner's policy will cover you, the buyer against any loss or claim that may arise against your title. The lender's policy protects the lender's interest in the property as security for the outstanding balance under the mortgage.

How much does title insurance cost?
All title insurance premiums are controlled by the Commonwealth of Pennsylvania and are based upon the amount of the policy. Most fees are standard, but some can vary depending upon the transaction. Make sure that you obtain quotes in writing from a couple of different title companies prior to making a decision.