Why Title Insurance? Part 2
There are two basic kinds of title insurance: Lender or mortgagee protection Owner’s coverage Most lenders require mortgagee title insurance as security for their investment in real estate, just as they may call for fire insurance and other types of coverage as investment protection. When title insurance is provided, lenders are willing to make mortgage money available in distant locales where they know little about the market. Owner’s title insurance lasts as long as you, t