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What is Title Insurance?Title insurance is a type of insurance that protects mortgage lenders and/or property owners against claims questioning the legal ownership of a home or property (i.e., the title to the property). If disputes over title ownership arise after the purchase, the insurance policy pays for any legal fees to resolve them. *Needed for both commercial and/or personal properties. |
Why it’s Important!A title policy protects a buyer from the discovery of existing tax liens on a property, non-disclosed restrictions on the property’s use, mistakes in the public recording of the exchange of ownership, and even fraud and forgery. The title insurance policy covers the purchaser for up to the amount that the property was purchased for. |
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