What Every Home Buyer & Seller Should Know About Title Insurance Most home sellers and buyers have been informed that obtaining title insurance will provide them necessary protection over possible title defects; but many remain uncertain about why this is so ÷ or even about what title insurance is. At the Chicago Title and Trust Family of Companies, we believe we have everything to gain by throwing some light on the subject. The more you know about title insurance and its pricing, the more confident you'll be about coming to us for a policy. A Seller's Concern: How Much Does it Cost? A title insurance policy from the CTIC Family is much more cost-effective than the other kinds of insurance you have had to purchase. For a single, one-time-only fee, we provide a title policy that remains effective until the property is sold to a new owner even if that doesn't occur for decades. The CTIC Family's price structure is among the lowest giving you the most respected name in title insurance at highly competitive rates. Why the Seller Needs to Provide Title Insurance Any prospective buyer will need evidence that his investment in your property is free of title defects. In fact, your contract of sale probably requires it. The title insurance policy that you provide the buyer is a guarantee that you are selling a clear title to your real estate, unencumbered by any legal attachments that might limit or jeopardize ownership. The CTIC Family name carries special authority: it reassures your buyer that the title has passed the most careful scrutiny. In addition, it can help your deal close more quickly and easily. Why the Buyer Needs Title Insurance Without a title insurance policy, you may not be fully protected against errors in public records, hidden defects not disclosed by the public records, or mistakes in examination of the title of your new property. As a result, you may be held fully accountable for any prior liens, judgments or claims brought against your new property. However, your policy insures that if such an occasion arises, you will be defended free of charge against all covered claims and paid up to the amount of the policy to settle valid claims. With a title insurance policy from the CTIC Family, backed by our vast resources and financial strength, you need never worry that your new property's history will tarnish your bright future. The CTIC Family Difference At the Chicago Title and Trust Family of Companies, we're proud of our prestigious reputation. Since issuing our first title policy in 1888, we've been the industry leader, providing thousands of title policies each day. What's more, we now offer rates that are often several hundred dollars lower than our competitors. Our rates and service make us the first choice among informed home sellers, while our reputation for quality and unsurpassed financial strength makes us the first choice among informed home buyers. Even though we protect the titles of millions of American homes, we stand behind each one as if it were our own.