Title insurance policy Sunday, June 18, 2006
Protects the insured up to a specified amount against losses arising from claims against the property due to a defect in the title. A mortgagee's (eg lender's) title insurance policy does not protect the owner. Owner's coverage may be purchased to protect the owner's equity interest.
A policy that protects the purchaser, mortgagee or other party against losses.
A contract by which the insurer, usually a title insurance company, agrees to pay the insured a specific amount for any loss caused by defects of title to real estate, wherein the insured has an interest as purchaser, mortgagee, or otherwise.
A contract of title insurance under which the insurer, in keeping with the terms of the policy, agrees to indemnify the insured against loss arising from claims against the insured interest.
Protection against financial loss arising from defects in the title occurring before purchase.
An insured statement of the condition of an ownership or security interest in real property. Insures against loss resulting from defects of title to the insured property.
posted by your Insurance @ 2:09 AM,
