Title Insurance

    Protects lenders or homeowners against loss of their interest in property due to legal defects in title. Title insurance may be issued to a “mortgagee’s title policy.” Insurance benefits will be paid only to the “named insured” in the title policy, so it is important that an owner purchase an “owner’s title policy”, if he desires the protection of title insurance.

    2 Types:

    Owner’s policy protects the buyer’s interest in the property

    Loan policy protects the lender’s interest.

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