Moneymore is a village in Ireland. The name is does not describe the financial wealth of citizens, but simply means “great shrubbery.” This situation underscores the need for clear land title. Clear title provides clear understanding and it is worth protecting with title insurance.
Title insurance is a protection to defend against claims to the property. It is not a guarantee; it is a defense, and it addresses what happened before the purchaser received the property. Despite how correct a land owner’s title may be, without title insurance, legal defense costs of that title could exceed the value of the property.
The village of Moneymore was founded by Drapers of London to grow flax in the surrounding fields, thereby allowing the company to develop its linen trade. Thus the name Moneymore may be not so far off its meaning “great shrubbery,” though Americans might not understand the brogue.
Title may be meaningless if it is defenseless. Even Moneymore had its forts.
