What Is Title Insurance?

Title insurance is a form of indemnity designed to protect property buyers and mortgage lenders. It secures them from losses that may result from any known or unknown defects in the chain of title received from the title seller. Buyers are often required to purchase a lender’s title insurance policy to protect a mortgage company or bank from losing its interest in the property. In the same way, buyers should obtain an owner’s policy to protect his or her own interest in the property from a potential claim of a defective title. If you need more information about title insurance, Liberty Coast Abstract in Englewood Cliffs, NJ is here for you!