![What Does Title Insurance Do](/images/My-Servion/2019/_heroMedium/What-Does-Title-Insurance-Do.jpg)
What Does Title Insurance Do?
Title insurance makes sure your home remains your home.
If a property is for sale and you purchase it, you should be able to own it without worrying that someone else may have a claim to it. But more often than you may think, transfers of ownership are hampered by “defects,” or problems, with the title.
Examples of title-related problems
![](/images/My-Servion/2019/Title-1.png)
Existence of undisclosed heirs to the property
![](/images/My-Servion/2019/Title-2.png)
Tax liens
![](/images/My-Servion/2019/Title-3.png)
Recording errors
![](/images/My-Servion/2019/Title-4.png)
Pending legal action
![](/images/My-Servion/2019/Title-5.png)
Fraud or forgery in the chain of title
![](/images/My-Servion/2019/Title-6.png)
Title search errors
Two types of title insurance policies
Both the property owner and the lender should take steps to protect their interests against possible title-related complications. That’s where title insurance comes in.
Loan Policy
- Protects the lender, not the borrower
- Usually required in order to receive a mortgage
- Policy amount decreases as you pay down your loan, and eventually goes away entirely
- Generally paid for by the buyer
Owner's Policy
- Protects the buyer if a covered problem arises
- Usually purchased for a one-time fee at closing
- Lasts as long as you own the property
- Generally paid for by the seller (Minnesota is an exception to this general rule)
From our blog
![Servion Title Salutes Our Troops: Military Discount for Home Transactions](/images/_heroMedium/Military-Discount-Blog-Image.jpg)
Servion Title Salutes Our Troops: Military Discount for Home Transactions
Servion Title salutes our military with a year-round $100 discount on closing costs for home buyers, sellers, and refinancers. We'll guide you through the process with top-quality service. Thank you for your service, and welcome to Servion Title!
From our blog
![The Servion Group's Partner Update - October 2023](/images/_heroMedium/Partner-Update-Blog-Image_231101_113212.jpg)
The Servion Group's Partner Update - October 2023
We're excited to extend a warm welcome to our latest partners and to celebrate our existing partners who are broadening their offerings through Servion.