Title Insurance

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Title Insurance

A contractual arrangement entered into to indemnify loss or damage resulting from defects or problems relating to the ownership of real property, or from the enforcement of liens that exist against it.

Title insurance is ordinarily taken out by a purchaser of the property, or by an individual lending money on the mortgage, in an amount equivalent to the purchase price of the property. To be entitled to coverage, the purchaser typically pays one lump sum premium, usually at the day of the closing. Title insurance companies are specially organized for this purpose. They retain complete sets of abstracts of title or duplicates of the record, hire expert title examiners, and prepare all types of conveyances and transfers. Following a title search, such companies furnish a certificate of title, indicating the findings of the title examiner with respect to the state of the title to the property involved. Title insurance companies are liable only for a lack of care, skill, or diligence on the part of their examiner when a title certificate is issued up to the face amount of the policy. An insurance of title, however, warrants the validity of the title in any and all events.


Recording of Land Titles; Registration of Land Titles.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

title insurance

n. a policy issued by an insurance company guaranteeing that the title to a parcel of real property is clear and properly in the name of the title owner, and that the owner has the right to deed the property (convey or sell) to another. Should a problem later arise with the title (such as an inaccurate description), the insurance company will pay the damages to the new title holder or secured lender, or take steps to correct the problem. (See: title, title search, chain of title)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
(FNF) has closed the acquisition of a majority ownership stake in Hawaii, US-based title insurance company Title Guaranty of Hawaii, the company said.
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Esquire Title Services, LLC, is an agent of Stewart Title Guaranty Company and the First American Title Insurance Company, among others.
Those land dispute victims could have at least been compensated for their financial losses if Stewart Title Guaranty de Mexico had been around at the time.
Stewart Title Dominicana provides title guaranty, escrow and closing services for buyers and sellers of residential and commercial property throughout the country, said Charles Craig, manager for the Central America and Caribbean Division of Stewart International.
There is no better example of the promise of e-commerce than Title Guaranty of Hawaii, the escrow company that is the subject of this month's cover story.
ENPNewswire-August 19, 2019--AM Best Affirms Credit Ratings of Stewart Title Guaranty de Mexico, S.A.
Prior to joining AmTrust Title, Frederick was Vice President, Agency Services Manager for Stewart Title Guaranty Company in New Jersey.
Global Banking News-September 4, 2017--Fidelity National closes acquisition of stake in Title Guaranty of Hawaii