A title insurance policy offers the best protection against potential defects that can remain hidden despite the most thorough search of public records in a real estate transaction. The one-time purchase protects the deed to the purchaser for as long as they own the property.

There are two main types of policies:

Owner's Policy

For as long as the property is owned by the purchaser, and up to the purchase price or value on that property. The one time premium paid is optional - either at the time of purchase or at a later date. Nevertheless, an Owner's Title Insurance Policy provides a lifetime of protection to that specific owner against title defects that could otherwise affect that purchaser's claim to the parcel of property.

Lender's Policy

A Lender's Policy protects the interest of the lender up to the value of the loan issued and is typically always required. A new policy must be issued for every new loan issued on a piece of property. The one time premium is paid at the time of the closing, and concludes once the loan is paid off.