Title Insurance Q & A


What is Title Insurance?

Title insurance protects the insured from losses as the result of claims on one's ownership of land. Some examples of claims are fraud, improper court proceedings recording mistakes, missing heirs, unfiled liens, etc. Coverage under your title insurance policy requires the insurer to defend you against claims of others. A neighbor may claim rights to a portion of your land. Without Title Insurance you would have to bear the cost of settling this dispute through the courts, regardless of the validity of the claim. 


What are the different types of Title Insurance policies?


There are two basic forms of Title Insurance--an Owner's Policy and a Loan Policy. As the names indicate, the Owner's Policy covers the land owner and the Loan Policy covers the lender on a particular parcel of real estate.


If a loan policy is issued, why do I need an Owner's Policy?


A Loan Policy offers no protection to the land owner. A claim may arise that does not jeopardize the lender's interest, but may, in fact, cause a great loss to the owner.


How long am I protected?


Forever; you and your heirs are protected for as long as you or your heirs own the property.

How much does it cost?


Fees vary from state-to-state, but in all cases it is a one time cost that doesn't have to be renewed like other forms of insurance.

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