What does a title insurance company do? It provides insurance to protect your title (ownership) to your home. Title insurance acts as a shield against any future claims brought by someone else over the validity of the title. The title insurance company runs a search for records of the property; this ensures that the person claiming they own the property is the actual owner of the property. The title insurance company creates a title report, which is a large document relaying important information such as outstanding mortgages, open taxes, judgments, or liens against the property. The purchaser’s real estate attorney usually orders the title report and chooses the title insurance company. Every purchaser of real property in New York State needs title insurance.
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