Title insurance is a form of insurance that protects buyers and lenders from losses or damages due to liens, encumbrances, title defects and legal challenges to the purchaser’s ownership of the property, such as by an undisclosed heir of a prior owner.
Title insurance is unique among insurance products in that it provides protection against things that happened in the past, not things that may happen in the future.
There are two kinds of title insurance:
Owner’s Policy
Protects the owner, up to the coverage limit of the policy, from losses if errors, omissions, or forgeries in the chain of title or deed negatively impact or nullify their ownership in the property.
Lender’s Policy
Protects the mortgage lender’s interest in the property until the owner pays off the mortgage.
To learn exactly what you title insurance policy protects against, check the Covered Risks section of your policy or reach out to Coastal Security Title using the form below!
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