Title & Liens
What Is Title Insurance?
Title insurance is a policy that protects the buyer (and lender) against financial loss from defects in a property's title — such as undiscovered liens, fraud, or recording errors — that existed before the purchase.
Unlike most insurance, which protects against future events, title insurance protects against problems that already exist in the property's history but weren't discovered during the title search.
There are typically two policies: an owner's policy protecting the buyer, and a lender's policy protecting the mortgage company. In a cash sale, the buyer usually obtains an owner's policy.
Title insurance gives a buyer confidence to close even on a property with a complicated history, because the policy backstops them against hidden title defects.
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