Title insurance is used to protect a real estate owner or lender from certain sorts of loss, such as a flawed or unmarketable title, up to a particular sum.
Insurance is a tool for risk management. When you get insurance, you are protected from unforeseen financial losses. The insurance company pays you or a different individual of your choosing if something negative happens. Without insurance, you can be liable for all expenses if an accident occurs.
Lenders and homebuyers are safeguarded by title insurance, a type of indemnity insurance, from financial loss brought on by issues with a property's title. Lender's title insurance, which the borrower acquires to protect the lender, is the most typical sort of title insurance.
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