title insurance
Ownership defect coverage
Title insurance protects property buyers and lenders against defects in a property's title—claims, liens, or encumbrances that weren't discovered during the title search.
Unlike other insurance that guards against future events, title insurance covers problems that already exist but remain hidden: The title insurance paid out when a previous owner's heir challenged the sale.
A one-time premium is typically paid at closing.
- escrowConditional third-party deposit
- deedWritten property conveyance
- lienClaim securing debt
- encumbranceHindrance or legal claim
- indemnityProtection against financial loss
fraud prevention · closing costs · good faith estimate · underwriting · warranty deed · ownership rights · abstract · property transfer · easement · coverage limits · mineral rights · mortgage · land records · exclusions · premium · adverse possession · foreclosure · claim
- housingapartments, home, house, houses, homes
- Home Buyingmortgage, downpayment, down payment, closing, closing costs
- real estatehouse, home, apartment, property, sale
- housing costsrent, mortgage interest, electricity, down payment, closing costs
- mortgagesfixed-rate mortgage, mortgage broker, adjustable-rate mortgage, mortgage payment, mortgage deed
- financial safetyemergency fund, savings, safety net, nest egg, rainy day fund
title insurancehazard insurance
Protection against property perils
property insurance · fire insurance · flood insurance · liability insurance · mortgage insurance