Title is the ownership of the land or the property in question. When a land or the property is sold or purchased there is a transfer of title in exchange of money. This title transfer makes the person who is paying the money the sole owner of the title. Many a time the title is bought by many in unison in such a case all the people who have paid for the property become the title holders.
While buying a land or a property it is important that the buyer makes sure that the title of the property he or she is interested in has a clear title history. This is important because if a property has many claimants to the title and few of them remain unresolved there is a possibility that you may have to get into a legal battle with the previous title holders.
The title must be insured if the buyer wants to have a hassle free life after buying the property. This ensures that you buy a property that has a god title history because the insurer searches all the public records in order to not get into a deal that is sure to cause a loss to the insurer.
If at all there is a litigation due to hidden hazards like a co-owner that was not declared or a heir to the property or a mistake in the public records as such then the insurance will cover the buyer for all the expenses of court and attorney.
Personally came and appeared _________ who deposes and swears that he [she] has been in peaceable possession of _________[description of land] at _________ for about _________ years, and has paid taxes on the land; that he [she] purchased _________ acres together with other land from _________ and _________ administrator, and known as the _________ tract; that a portion of the _________ acres has been in cultivation _________ years, all to the best of his [her] knowledge and belief.
Sworn to, etc.
