Why do I need Title Insurance?

In the old days when a person purchased property they had to rely on the integrity of the seller. If the seller misrepresenated ownership or emcumbrances affecting the property, the buyer had to sue the seller for damages. If the seller was uncollectible or had left town, the buyer was out of luck.  If the person examining title made a mistake and was uncollectible or had left town, the buyer was again out of luck. To solve this problem, title insurance companies were created. Title insurance companies and their agents, like Gateway Title & Abstract Co., search property records and issue title policies insuring the buyer or lender. If it turns out that there was a covered defect in the title, the insurance company steps in to protect the buyer or lender. With this protection, buyers and lenders may enter into real estate transactions with confidence their interests are protected. 

Michigan:
Our sister company will service all of your Michigan title insurance and closing needs.
www.CorporateTitle.com