A Title Insurance Policy insures that a new property owner will receive a title for the property that is free and clear of any possible encumbrances, and that the owner has clear title from the seller. The policy also insures that the new owner will stand protected from loss or damage as a result of any title defects. Some possible encumbrances include protection from forged documents, mistakes in public records, fraud, and incorrect property descriptions. Ohio Title Corporation will provide a thorough search of the public records to reveal possible liens, claims, or other claims against the property.

There are two primary types of title insurance policies:

The Owner’s Policy

An Owner’s Title Policy is issued to the new owner of real estate, insuring the property is free from title defects and that title is marketable.

The Lender’s Policy

The Lender’s Policy is issued to the lender upon their filing of a mortgage on the subject property. This policy insures the lender that they have the first and best lien on the property.