Owner’s Title Insurance

Owner’s Title Insurance protects a purchaser’s property interest not only while they own the property, but also after they sell it. Owner’s Title Insurance is available to any purchaser of real estate for a one-time premium paid at closing. While Owner’s Title Insurance is optional, lenders in real estate refinance and purchase transactions always require a title policy to be purchased to protect their interests.

Owner’s Title Insurance provides a guarantee of ownership in your home. Before the closing, one of our attorneys will perform a title search on the property to be purchased. A title search involves the review of land records to determine ownership, claims, and other matters that may affect the property. This search discloses recorded deeds, mortgages, judgments, taxes, liens, and other legal matters. If any problems with the title are uncovered during the title search, our attorneys and staff will work to fix them prior to closing.

But a diligent title search may not uncover all problems affecting title to a property. One of our title companies put together 70 Something Ways You Could Lose Your Home to show how owner’s title insurance can protect your home. For example, a forged or fraudulent document affecting the property, incompetence or lack of authority of a person who sold the property, and improper administration of an estate are each title problems that may not be revealed by an examination of public records. A title search will also not uncover documents recorded in the “gap” period (the time between the filing of a document and it showing up of-record), any contractor liens, unknown heirs, human error in the recording process, or an improper foreclosure.

Owner’s Title Insurance will protect a purchaser’s interest in their property against all these problems. There is only one premium—paid at closing—for this protection, and if purchased at the same time as a Lender’s Title Policy, the premium for an Owner’s Policy will be discounted.

Sherman & Phalen, LLC is a title agent for the following companies:

  • Chicago Title Company
  • Old Republic 
  • First American Title Company

Through each of these companies, we offer lender’s, owner’s, and enhanced polices for both residential and commercial transactions. Read about First American’s Eagle Owners Policy Benefits.