An insurance policy which protects the insured against loss
arising from defects in title. Title insurance policies are typically obtained
for the buyer and the lender.
Types of defects title insurance can cover include but not limited; to errors
within the public records, unrecorded or unknown liens on the said title,
illegal deeds on the title, forgeries done on, against or even pertaining to
the title, boundary disputes if the title is for a property, and such extremes
as a false impersonation of the previous owner/owners. If an owner shall
encounter any of these title defects without title insurance, it is assumed
that the court hearings pertaining to the dispute of the title will often be
long, complicated, and the verdict in favor of the plaintiff. Lawyers from all
over the country and many different firms often seek to avoid said court cases
because they are proven to be the most problematic.