What is Title Insurance?
Title insurance is a contract of indemnity which guarantees that the title to the property is as reported. If it’s not as reported, we will reimburse the buyers for actual loss or damage under the condition specified in the policy. The title policy covers the insured for their loss up to the amount of the policy.

Title insurance assures owners that they are acquiring marketable title. Title insurance is designed to eliminate risk or loss caused by defects in title from the past. Title insurance provides coverage only for title problems which were already in existence at the time the policy was issued.

Title Search
Precision Closing Services works to eliminate risks by performing a search of the public records or through our own plant. The search consists of public records, law and court decisions pertaining to the property to determine the current recorded ownership, any recorded liens or encumbrances or any other matters of record which could affect the title to the property. When a title search is complete, Precision Closing Services issues a preliminary title report detailing the current status of title.

A preliminary report contains vital information which can affect the close of escrow: ownership of the subject property of the owners of the property, a legal description of the property and an informational plat map.

What Does a Title Policy Cover?
Not all risks can be determined by a title search, since certain things such as forgeries, identity of persons, incompetence, failure to comply with law, or incapacity cannot be disclosed by an examination of the public records.