What is Title Insurance?

There are two types of title insurance that are most commonly issued in a residential transaction:

A lenders title insurance policy insures the lenders interest in your property against losses arising from title defects. It protects the outstanding balance of the mortgage. A lender will require that you purchase a lenders title policy in order to secure your mortgage.

An owners title insurance policy protects the interest of the homeowner. This policy will protect your interest and will cover your loss arising from a valid claim up to the face amount of the policy.