What is the difference between Title Insurance and Owners title Insurance? - difference between lenders policy and owners policy
Hi friends,
We are about to buy a new home in Mason, Ohio, and expected to close within a few days. They asked questions about the mortgage, if you are interested in the "Ownership Title Insurance?
Already there is a fee ($ 763.00) I paid the fee title insurance. So what do we really need this additional protection of "owners title insurance, and if so, what will help me to have this additional protection, while I pay for.
Suggestions or comments would be greatly appreciated.
Thanks
Ram
Friday, January 15, 2010
Difference Between Lenders Policy And Owners Policy What Is The Difference Between Title Insurance And Owners Title Insurance?
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2 comments:
Title insurance is the lender's policy protects the lender a lien on the property. The policy owner is the owner for you to protect you against any charges of May, during this property. For example, if holds in 10 years, the county that another person, the owner of a portion of their land and was liable for her money, you are responsible for the payment of the policy, if a bird owner. He won to do the punishment.
You need title insurance in order to acquire the mortgage business, but if you want to protect yourself, you should consider.
A fund close relative of mine, collected by a company properly. The short version is that there are two homeowners and signed by them. This was discovered five years later, when the current "owner" went to sell the house after they had greatly appreciated in value. Technically, he could not sell because it does not really. That would have been a disaster would be. If you buy a property I want to be safe.
But I think if you buy a new house, could be affected in a larger community (while all the owners, skew), the danger is a little reduced.
Jeff
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