5 Things to Understand About Title Insurance

1. It protects your ownership right to your home both from fraudulent
    claims against your ownership and from mistakes made in earlier sales,
    such as mistake in the spelling of a person’s name or an inaccurate
    description of the property.

2. It’s a one-time cost usually based on the price of the property.

3. It’s usually paid for by the sellers.

4. There are both lender title policies, which protect the lender, and owner
     title policies, which protect you. The lender will probably require a
     lender policy.

5. Discounts on premiums are sometimes available if the home has been
    bought within only a few years since not as much work is required to
    check the title. Ask the title company if this discount is available.