What is Title Insurance Pt.1
In this video Deirdre P. Brown gives an overview of what title insurance is.
Hello this is Deirdre Brown your settlement agent serving Maryland, DC and Virginia. Today I'm going to answer the question of what is title insurance. Title insurance protects either the lender's interest or the purchaser's interest in a real property. You can purchase lender's title insurance and owner's title insurance at settlement. In a separate video I'll go over the difference between those two. so look to that but
Title insurance protects lender or the owner against any claims against title they may happen in the future. So unlike other types of insurance that only covers past claims. Title Insurance will cover claims that happen in the past but the claim didn't come until the future. In addition it will allow for you the purchaser via the owner's title insurance policy to have the title insurance company defend your interest in the property at no cost to you. The coverage for owner's title insurance remains with you as long as you own the property. Lender's title insurance is reissued every time you refinance.
Basically title insurance gives you peace of mind in knowing that you are receiving marketable title that is free and clear of any liens against title.
if you have any questions please reach out to me at closewithdee.com