Title Tip Tuesday. What is The Owners Policy and What Does It Protect?

There are two types of title insurance: owner’s title insurance, called an Owner’s Policy, and lender’s title insurance, called a Loan Policy.

An Owner’s Policy is usually issued in the amount of the real estate purchase. It is purchased for a one-time fee at closing and lasts for as long as you have an interest in the property. Only an Owner’s Policy protects the buyer should a covered title problem arise.

 

 

 

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