What is title insurance, and is it required?

What is title insurance? Title insurance protects the insured from a financial loss related to the ownership of a property.

Title searches and title insurance are required in the mortgage origination process. A cloud on title is any encumbrance that puts a title to real property into question. Examples of encumbrances are.

Oftentimes people ask me why I should buy a title insurance policy, and it says right on the. Firstly, if you get a loan, the lender will require it.

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Insurance policies financed. found the trade-ins were sold without proper title. They were secretly moved from a dealership in Tempe to another in Phoenix, then transferred to new owners without.

Real estate title insurance is a type of insurance that covers financial loss from defects in title to real property and from the invalidity of mortgage liens. A title policy is put in place to protect an owner’s or lender’s financial interest in a property against loss due to title defects, liens or other matters.

In general, title insurance is an indemnity insurance covering the loss of ownership of a real property interest due to title defects or liens. There are two types of title insurance, one of which is required and the other is optional, though strongly recommended under certain circumstances.

Title insurance is crucial for a home buyer because it protects you and the lender from the possibility that your seller doesn’t — or previous sellers didn’t — have free and clear ownership of the house and property and, therefore, can’t rightfully transfer full ownership to you.

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Title insurance is an important-and sometimes misunderstood-aspect of real estate transactions. Even if the parties to a deed do not plan to purchase title insurance, it is important that the deed meet title insurance requirements.. Many people assume that if a deed is valid under state law and meets all recording requirements, there is nothing to worry about.

The basics of title insurance By Insure.com – Last updated: Jul. 21, 2016 Title insurance is an indemnity policy that protects you or your mortgage lender against problems relating to the property’s title prior to the date of the policy.