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What is Title Insurance when Buying Real Estate
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Title Insurance

What is it?

Buying a home is likely the most important investment you will ever make. At the closing the attorney will ask you if you would like to buy owners title insurance.  Your lender requires a loan policy to insure its mortgage interest in your property against title defects and other risks.

Although the premium for the loan policy is usually included in your closing costs, it does not protect you. Your best protection against potential title defects that could deprive you of your ownership rights is an owner's title insurance policy.

For a one-time premium, an owner's policy remains in effect for as long as you or your heirs own the property. When you want to sell or refinance your property, the policy insures against loss or damage that you may suffer if the new buyer or lender challenges your title as unmarketable.

In the event of a claim, they  will either correct covered title problems or reimburse you for insured losses and will defend against any lawsuits attacking your title as insured. An owner's policy may save you thousands of dollars in legal costs. Owner's coverage takes the risk out of acquiring property and gives you the ultimate in peace of mind.
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