What is Title Insurance and why do I need it?

Title insurance is a policy that protects the real estate owner, and lender, from any loss or damage they might experience because of liens, encumbrances, or defects in the title. For example, if after you buy a home the previous owners ex-spouse comes to you and tells you that they have a legal right to the property because it was sold without their permission... this is not your problem, the company that issued the title insurance will have to resolve the issue.

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