What is title insurance, and is it required?

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Title insurance is designed to cover these rights you bargain for. Q: What if I have a problem? Do I have to lose my property to make a claim? A: Not at all. At the mere hint of a claim adverse to your title, you should contact your title insurer or the agent who issued your policy.

 · The title insurance policy must ensure that the title is generally acceptable and that the mortgage constitutes a lien of the required priority on a fee simple or leasehold estate in the property. The title policy also must list all other liens and state that they are subordinate to Fannie Mae’s mortgage lien.

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VA Loans and Title Insurance. Generally, title to the estate shall be that which is acceptable to informed buyers, title companies, and attorneys in the community in which the property is situated.". So in essence, any required title insurance is not included "against the wishes of the VA". Some lenders require title insurance, some many not.

The required insurance protects the lender up to the amount of the mortgage, but it doesn't protect your equity in the property. For that you need an owner's title.

Is Title Insurance Really Worth It? Whether you need title insurance depends on several factors. As you can see, title insurance may kick in if something that happened in the past resurfaces. So it may be suitable if your home is very old. What you pay for title insurance will vary based on where you live and the policy itself.

Title insurance offers financial protection against title problems that might not be found in the public records, are inadvertently missed in the title search process or that may arise from fraud or forgery. The title policy required by a lender covers only the lender’s interest in a property.

Title Insurance If you borrow money to buy a home or property, a lending institution will probably make you buy a title insurance policy to protect its interest. As a consumer, it’s in your best interest to be well-informed about title insurance, how it works, and what to look for in title insurance.

The pennsylvania title company that handles your closing will issue the title policies. Just like a life insurance policy requirement, in which you are required to .

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