FAQ's Title Insurance


Title insurance is a one-time premium paid when you purchase property that protects the homeowner from title defects – legal issues which can prevent a property from being lawfully transferred or sold – for as long as you or your heirs own the property. Basically, it’s insurance against a property’s history, and it protects you against suffering financial penalty due to undisclosed issues with the property’s title.

Mortgage lenders will also require the buyer to obtain mortgagee title insurance for the mortgage amount to protect their first lien position should they need to foreclose on the property. In other words, a lender wants their investment in the property secured as well.

A big part of securing title to a property is to conduct a thorough search of the property’s history. The title agent such as The Duffy Agency will submit documents to the Title Company such as First American, who will provide a preliminary commitment of insurance which indicates to what extent the company is willing to insurer Marketable Title to the property.  At this point The Duffy Agency will request documents that are necessary to prevent, and eliminate any risks or losses which may arise due to title problems, using public records to establish a clear chain of ownership and disclosing all identifiable outstanding claims against it.

Once an owner has title insurance, future claims made against the home will be paid for by the title insurance company rather than the buyer, including the legal defense costs of such a claim. In short, title insurance protects you against future claims and secures your hold to the property.  You can request a title policy commitment from The Duffy Agency by contact John at the number below.

The Duffy Agency
License No. TLA-1403135
265 Union Street
Hamburg, New York  14075
Phone:  716-998-5475