Understanding Title Insurance: Protection for Property Owners and Lenders

Unlike other forms of insurance original ___= only cost as long as original ___ ___ property. no ___ ___ to keep Owner’s ___ ___ Policy in force.

premium – buyers own – additional payments – Title Insurance

Unlike other forms of insurance, original title insurance only costs as long as the original owner owns the property. There is no need for the owner to keep the Owner’s Title Insurance Policy in force.

Title insurance is a type of insurance that protects the owner or lender from financial losses due to defects in the title to a property. These defects may include undisclosed liens, ownership claims by others, or errors in the public record.

When purchasing a property, the buyer typically pays for a title search to identify any potential issues with the title. Title insurance is then purchased to protect the buyer and lender from any issues that may arise after the purchase.

Unlike other forms of insurance, such as homeowner’s insurance or car insurance, title insurance is a one-time payment that lasts for as long as the owner owns the property. There is no need to renew the policy or pay additional premiums. This is because the title insurance policy covers issues that occurred before the policy was issued, rather than future events that may happen during the period of coverage.

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