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But don't bet on it. You have too much to lose.

When you buy real estate, you can see what you're buying, right? There's the land, the buildings, the landscaping. Possibly the waterfront, or the mountain view, if it's a second home. Or the traffic and other factors that contribute to success if it's a commercial site.

But there's one important thing you can't see: the title to the land. You can't see the names of the person, persons, bank, or corporation that owns or has a financial interest in the land and the buildings. So you can't be sure of the title.

Surprisingly, the quality of any title is not an absolute thing. It's a matter of opinion, where even experts thoroughly versed in the law of real estate may differ. So anyone who reviews your title might make an honest mistake. Or might not discover some of the hidden things that might seriously affect your title.

Things like a forged will or deed. Or a title transfer by someone under age. Or a married person conveying without his or her spouse joining in the transfer. Or fraudulent impersonations. Secret marriages. Undisclosed heirs. Invalid divorces. False affidavits. And so on.

Title insurance is your protection as a purchaser.

How Title Insurance Protects
First, a service known as a title search describes--as well as possible--the condition and quality of the title to the land you are buying. Then your title insurance protects you against mistakes or threats which might otherwise result in financial loss to you--including those hidden, unknown items.

Your title insurance protection starts the day you make settlement. It is a permanent assurance that your ownership and use will be defended promptly against claims at no cost to you, whether the claim is valid or not.

Who Title Insurance Protects
There are two basic types of title insurance protection--one for the mortgage lender and one for the home owner or real estate investor.

If a mortgage is to be placed on your new home, the mortgage lender will probably require that you purchase title insurance to protect his investment. But this mortgagee's title insurance policy doesn't protect you, the home owner. It protects the mortgage lender.

You, the home owner, need an owner's title insurance policy to protect your investment.

The cost is conservative. You pay only once. There are no renewal premiums, and there is no expiration date on the policy. Yet the protection lasts as long as you, or your heirs, retain an interest in the property.

A Small Cost For Years Of Protection
The real estate you own represents stability, permanence, and the hope of the future. Don't take a chance and let it be taken from you because of a flaw in the title. It just makes good sense, for the relatively small amount it costs, to protect yourself with title insurance.