Title Insurance - Five Things You Should Know

1. Title Insurance protects your ownership right to your house from both fraudulent claims against your ownership and also from mistakes that might have been made in earlier sales. This could be mistakes such as the misspelling of someone's name or a property description that is not accurate.
2. It is s a one time cost that is based on the selling price of the property.
3. Title Insurance is most often paid for by the Seller.
4. There are lender title policies, that protect the lender, and owner title policies, that protect the owner. . A Lender policy is usually required by the bank.
5. Premium discounts may be available if the home has been bought within the last few years. There isn't as much work to be done to check the title. Check with the title company to see if any discounts are available.