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Your home may be one of the largest investments you’ll ever make. To protect it, you need an owner’s title insurance policy.Title insurance protects you against hidden hazards and human error that can cause problems in any real estate transaction. When you purchase title insurance, experienced title examiners perform a thorough title search by combing through all available public records, but there’s always a chance that substantial problems may go undetected.
Your property is pledged as security for your mortgage loan, so your lender protects its interest through a lender’s title insurance policy. However, this policy doesn’t cover you. You need an owner’s policy.
How it Works
An owner’s policy protects your interest in the property against such unforeseen threats to ownership as:
For a one-time premium you pay during the closing process, your title insurer assumes responsibility for all legal expenses to defend the title to your property if it’s ever challenged.
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