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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.What is title insurance exactly?
Title insurance is a type of insurance that protects mortgage lenders and/or homeowners against claims questioning the legal ownership of a home or property (i.e., the title to the property). If disputes over title ownership arise after the purchase, the insurance policy pays for any legal fees to resolve them. Unlike other types of insurance that help cover future mishaps, title insurance is ...