Title insurance is basically insurance against defects in title document of the property which can lead to financial loss. You can also choose title Insurance premium calculator to calculate title insurance cost of your property.
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These defects can either from a legal standpoint where-in you might end up having a different owner as to the person from whom you are buying a property or mortgage liens cannot be held there on the title deed.
The buyer should bear the ultimate responsibility of ensuring that the property he had purchased had the perfect title deeds, without any complications whatever.
This led to extensive research before buying anything because the buyer had to search through a variety of government and the registrar's office to cross check the title deeds and their authenticity.
It is a complicated process and this is what causes the insurance company began the process of title insurance. There are three types of title insurance policies. It is the owner's policy, the policy lender and credit policy construction.
While the owners take care of the owner's risk policies related to the title deed, the lender policy is basically to cover the mortgage loan.
It is more or less like credit insurance but also the risks associated with title deed. Although the actual title insurance to cover the shortfall related to the law of the land records, it is still a great tool to protect them from fraud related to the documentation of title deeds and related transactions.