Title Title Insurance

The heart of the real estate transaction is the conveyance of title to real estate for money. The funds are exchanged for the title. The land itself cannot be moved; it is the title to that land that is conveyed. Mortgage loans and tax issues all revolve around this core issue.

As the real estate market evolved over the past century, the importance of assuring clear evidence of title became urgent. There is usually few if any questions about the validity of funds provided at closing. The deed conveying the title typically is not released until the check clears. But how is the buyer assured the title being conveyed and the deeds conveying the title are both valid and marketable.

A marketable title is one that is free and clear of title defects and encumbrances, except for those encumbrances that the buyer agrees to accept. The "Marketable Title" article explores the issues regarding title marketability in greater detail.

Title insurance has arisen as one of the most common methods for assuring the buyer or assignee that the title they are receiving is marketable. But there are other methods for ensuring that the title is acceptable and marketable. This article will review those methods, as well as the process and evidences of title used in most real estate transactions, in the following sections:

  1. Abstracts and title examination
  2. Title certification
  3. Torrens system
  4. Title insurance
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