WHO DOES TITLE INSURANCE PROTECT?
There are two basic types of protection – one for the
mortgage lender and one for the homeowner or real
If a mortgage is placed on your new home, the
mortgage lender will probably require that you
purchase title insurance to protect the institution’s
position as a holder of a mortgage loan. This
mortgagee’s title insurance policy doesn’t protect
you, the homeowner. You need an owner’s title
insurance policy to protect your investment.
You pay only once. There are not renewal premiums,
and there is no expiration date on the policy. The
protection lasts as long as you or your heirs retain an
interest in the property.
* Credits to Old Republic Title Agency*