What is the primary benefit of obtaining a property title insurance?

The primary benefit of obtaining property title insurance lies in its role in safeguarding against defects in the title of a property. Title insurance serves to protect homeowners and lenders from financial loss arising from disputes over ownership, liens, or claims against the property that may not have been discovered during the title search process. This could include issues such as previous ownership claims, outstanding mortgages not disclosed, or errors in public records.

While the other options address important aspects of property ownership—such as concerns related to taxes, home warranties, and mortgage fraud—they do not align with the specific function of title insurance. Title insurance is explicitly designed to offer peace of mind by ensuring that the title is clear and marketable, thereby mitigating the risks associated with unforeseen complications concerning property ownership. This proactive protection is essential for anyone involved in real estate transactions, making it a fundamental component of property purchasing.