Title Insurance
Protecting Your Property Investment
What Is Title Insurance?
Title insurance protects buyers and lenders from potential losses due to title defects, legal disputes, or unresolved liens on a property. It’s a one-time premium paid at closing that can shield you from expensive surprises down the line. Whether you’re purchasing a house in Lakeview or a commercial building near the CBD, Gulf South Title issues policies that give you long-term peace of mind.
Common Title Issues
Even the most straightforward purchase can be complicated by title problems. Some of the issues title insurance covers include unknown heirs claiming a share of the property, forged signatures, recording errors, and unpaid taxes or liens. In New Orleans, where historic properties are common, title quirks can go back generations. Our team uncovers and resolves these issues before they become your burden.
Owner’s Policy vs. Lender’s Policy
An owner’s policy protects the buyer’s equity in the home, while a lender’s policy only protects the mortgage lender’s investment. Most lenders require title insurance, but it’s also smart for buyers to secure an owner’s policy to protect their own financial interest in the property.
Navigating Louisiana’s Unique Legal Landscape
Louisiana’s civil law system and succession rules mean that property titles can be more complex here than in other states. Even new construction homes can have hidden claims. Without title insurance, you could be left covering legal fees or even losing part of your property interest.
Local Expertise Matters
At Gulf South Title, we know the ins and outs of parish-specific recording offices and frequently encounter title issues tied to post-Katrina record loss or unresolved inheritance matters. We review each file thoroughly to catch problems before they impact your closing.
Our Title Insurance Partners
We issue title insurance through respected national underwriters, providing dependable coverage backed by financial strength. Whether you’re purchasing your first home or refinancing investment property, your title protection comes from a trusted source.
What to Expect When You Purchase a Policy
The process begins with a title search and examination by a licensed professional. Any defects are resolved prior to closing, and your title insurance policy is issued as part of the transaction. Gulf South Title coordinates everything for you, so your coverage is in place from day one.
Frequently Asked Questions
Cost of Title Insurance
Title insurance is a one-time fee, typically paid at closing. Louisiana uses promulgated rates, so the premium is consistent across providers. What varies is the level of service – and Gulf South Title delivers prompt communication, thorough research, and peace of mind.
How Long Does It Last? An owner’s title insurance policy lasts as long as you own the home. It even protects your heirs after your death, ensuring your property can pass to the next generation without hidden surprises.
What happens if a problem is found before or after closing?
If issues are discovered before closing, Gulf South Title works to resolve them – like clearing liens or obtaining heir signatures. If problems surface after closing and are covered by your policy, the title insurer steps in to defend your ownership or compensate you.
Is title insurance optional for cash buyers?
Yes, but it’s strongly recommended. Cash buyers face the same title risks as those with a mortgage. Without insurance, any title dispute or lien becomes your responsibility.
How much does title insurance cost?
Rates are based on the home’s purchase price. For example, a policy on a $250,000 home may cost around $1,000. We’ll provide a detailed quote before you close.