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evan
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 Posted: Fri Apr 28, 2006 5:22 am Post subject: A brief about Title Insurance
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Title insurance protects the lenders or the homeowners against the losses arising from any defects in the title or in the claim against a property.
In other words, a Title insurance policy is a contract where a private title insurance company pays a specified amount to the insured, for the losses caused by any defects in the title of real estate.
Title insurance generally issued to a mortgagees title policy. It is important to purchase an owners title policy to protect the title insurance as the insurance benefits will be paid only to the "named insured" in the title insurance policy. |
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