About Owner's Title Insurance Policies | Lipman & Katz

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Owner's Title Insurance Policy

Don't pass up your opportunity to buy an owner's title insurance policy.
Don't pass up your opportunity to purchase owner's title insurance — the typical lender's policy will not protect you.

When you purchase real estate and pay for it with a loan, the lender typically requires you to pay for a title insurance policy to benefit the lender. If the lender is actually harmed in the future because there is an issue with your ownership of the property, the insurance company will protect them. If you’re paying your mortgage like you are supposed to, there will be no coverage for the lender because the lender isn’t harmed. More importantly, it does not give YOU, the owner, any protection from a challenge to your legal title

You have the opportunity to purchase an owner’s title insurance policy to benefit you at the same time the lender’s policy is issued for a one-time fee. This policy protects you if there is a problem with your title to the property in the future, and it covers you for as long as you own the property and even beyond.

You can find more information on the U.S. Department of Housing and Urban Development (HUD) website or this informative site presented by the American Land Title Association.