What is Title Insurance and Who Needs It
Buying or selling a home is a complex process, and most people who have never gone through it are unfamiliar with all of the aspects of the sale. One of the things that you may need to have is title insurance. Title insurance protects buyers and lenders, but it is purchased by either buyers or sellers. In some cases, title insurance policies will be purchased by both the seller and the buyer. Here’s what you need to know about title insurance and when to get it.
What is Title Insurance
Title insurance is a layer of protection for buyers and lenders. In order for a property to be legally sold, it must have a clear title. A title search is done in every real estate transaction to ensure there are no liens or tax levies on the property. However, a title search doesn’t always turn up everything on a property. Title insurance protects the buyer and lender in the event that defects in the title arise after closing. Read more
