Title insurance insures against financial loss caused by defects in title to real estate. Title insurance companies defend against lawsuits attacking the title, or in the case of a covered loss, reimburse the insured up to the policy limit.

You should always buy from a licensed company. It’s illegal to sell title insurance without a license in Texas. If you buy from an unlicensed company, your claims could go unpaid. Neel Title Corporation has been providing title insurance for more than 99 years.

Most lenders will require a loan policy as a condition of the mortgage. The policy will repay the balance of your mortgage if a claim against your property voids your title. A loan policy covers up to the amount of the principal on your loan.

Closing is the final step in executing a real estate transaction. It is also known as the settlement or completion. On the closing date, the ownership of the property is transferred to the buyer. Neel Title has been providing these services since 1925.

The owner’s policy protects you against losses from ownership problems that arose before you bought the property, but that were not known at the time you bought the property. The loan policy is issued to the mortgage lender. It protects the lender’s interest in the property until the borrower pays off the mortgage.