Real Estate Term
Title Insurance
Insurance that protects against losses from defects in title or ownership.
What is Title Insurance?
Title insurance is a policy that protects a homeowner or lender against financial loss from defects in a property's title, such as undisclosed liens, fraud, survey issues, or errors in the public record. Unlike other insurance, it is a one-time premium paid at closing that covers issues from before you owned the home. It offers protection for problems a title search might not uncover.
Frequently asked questions
Related terms
TitleLegal ownership of a property.Title SearchAn examination of public records to confirm a property's legal ownership and identify any claims.SurveyA document showing the boundaries, dimensions, and location of structures on a property.Closing CostsFees and expenses paid at closing, including legal fees, land transfer tax, and other charges.LienA legal claim against a property, often used as security for a debt.ClosingThe final step in a real estate transaction where ownership transfers from seller to buyer.
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