To place it simply; title insurance is an insurance policy which protects/indemnifies the buyer/holder for any loss incurred due to omissions or defects in the title of the property. Title insurance is usually arranged as a single premium policy whereby you pay for the insurance as a lump sum upfront payment. Some mortgage lenders may much stipulate that title insurance be a condition of the mortgage offer however this is not all that common.
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October 26, 2011
What Is Title Insurance And Why Is It Important?
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