What is title insurance, and is it required? | Mortgage Rates. – When you have title insurance, your policy will normally protect you from any losses you suffer as a result of unknown faults in your title. Owners vs lenders. You’re not required to carry title.
What is lender's title insurance? – Lender’s title insurance is usually required to get a mortgage loan. Lender’s title insurance protects your lender against problems with the title to your property-for example, if someone sues to say they have a claim against the home.
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Title Insurance | Department of Financial Services – A recent purchaser of a home in Garden City, New York was surprised by the amount of premium he was charged for owner s title insurance. He asked whether such insurance is required by New york state law and whether the title insurance rates are regulated by the State. Analysis: Article 64 of the New York insurance law covers title insurance.
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Owner's Title Insurance: Is it worth the cost? – Inman – Is owner’s title insurance worth the cost?. In the language of the title industry, the insurance covers both "on record" and "off record" problems.. have required that an independent review.
Insurance covers sale of badly built property, court says – It had been built by an owner who obtained a building permit. A judge decided that John Breen’s title was. without all the required drawings and details. When Breen learned of the structural.
Title insurance | Washington State Office of the Insurance. – Title insurance is an insurance policy you buy from a title insurance company when you buy a home or property. It protects you and the lender from loss if a property ownership dispute occurs.
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House Lawyer: Is title insurance necessary for buyers? – The. – Had Mr. Buyer purchased owner’s title insurance, he could have simply filed a title claim, and the title insurance company would hire attorneys, at their expense, to sort out the mess. The title company probably would have bought the real Mrs. Seller’s interest for Mr. Buyer’s benefit.
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Buying a Home: Do You Need Title Insurance? | SmartAsset – An owner's policy may cost a little bit more. Depending on how much your home costs, title insurance could run anywhere from a few hundred.
Title-Insurance – Title insurance is a contractual obligation that protects against losses that occur when title to a property is not free and clear of defects (e.g. liens, encumbrances and defects that were unknown when the title policy was issued). Title insurance also guarantees loan priority.