Title insurance is a key part of buying a property, ensuring you’re protected from hidden problems with the ownership. It’s essential to understand the differences between lender’s title insurance and owner’s title insurance.
First, let’s clarify what title means. It’s like a certificate of ownership for your property, showing that you’re the rightful owner. The best type of title is called “fee simple”, giving you full control over the property without any restrictions. However, issues like zoning regulations or undisclosed problems can cloud the title. A cloud on title means an issue with “clear” ownership.
