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Title insurance is an insurance policy that protects a buyer against errors, omissions, or defects in the title of the property. This is an insurance that is usually purchased in conjunction with buying or selling a house and/or land. Usually, both the purchaser and the seller pay for the policy.What is title insurance and why is it important?
Title insurance is especially important for commercial property buyers, because it protects them from the unlikely yet all too feasible scenario that their purchase of a particular piece of real estate could be challenged by someone else also claiming ownership.What is title insurance and do you need it?
Title insurance is a type of insurance that covers potential damages from errors in the ownership records of your home or property. In most cases, you purchase title insurance when you get a mortgage. Title insurance policy covers either a homeowner or a mortgage lender, but you'll usually need to pay for both types as part of your closing costs.How long does it take to get title insurance?
Title insurance usually takes around 2 weeks to process, depending on the complexity of the title search. If it is taking the title insurance company more than that, you can follow up so that your policy gets processed at the soonest possible time.