12 - Title Insurance.
are two title insurance policies issued
upon each real property transfer.
The first is the Buyer's or "owner's"
policy which is generally paid for
by the Seller. The other is the Lender's
policy, paid for by the Buyer. It
should be noted that the traditional
Lender coverage paid by the Buyer
is much less expensive than the Seller's
title insurance obligation.
insurance has many qualifications
to coverage, but it basically provides
the buyer and lender with insurance
on the ownership of the property and
all matters pertaining to its past
history. Your agent will be able to
explain your insurance coverage and
give you an estimate of what your
title insurance will cost you based
upon the purchase price of your property.
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