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 Posted: Tue Oct 19, 2010 5:11 am Post subject: Title insurance and its benefits |
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A friend told me that Title insurance protects us against errors that we may commit or for defects that we may cause. Is it really the same as that of the E & O policies.
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BenG
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| Posted: Wed Oct 20, 2010 5:36 pm Post subject: |
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Title insurance protects a homeowner (or other purchaser of "real" property) against any defects to a clear title to the property. The Title Insurance company is supposed to make a complete inquiry into any possible liens/claims against the property that would "impair" a person's title or interest in the property.
It is NOT the same as Errors & Omissions insurance which is protection for an individual against any negligent acts he or she commits.
In short, title insurance protects the property owner, E&O protects the title insurance agent/company.
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MaxHerr
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| Posted: Thu Oct 21, 2010 10:52 pm Post subject: |
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Yes, with Title insurance the owner will be protected from errors and defects. You may choose out of Lender's, owners or Extended coverage options.
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Juanita
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| Posted: Fri Oct 22, 2010 12:23 am Post subject: |
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I've read that it basically covers us against direct frauds. Apart from that it offers protection from recording defects, forged documents or signatures etc.
E&O is something different and we've had a lot of discussions on E&O in the past. You may search with 'E&O insurance' using our search box. |
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steven
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| Posted: Fri Oct 22, 2010 8:42 am Post subject: |
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Nice to see you posting again, Steven!!
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MaxHerr
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