What is title insurance?

Title insurance is a financial protection offered to property owners and lenders in Washington in order to protect their financial interests in the event of a title dispute. It provides assurance that the title to real estate is free and clear of liens, mortgages, and other encumbrances. Title insurance is purchased when the title of the real estate is transferred from seller to buyer. It is typically paid for once at the closing of the transaction and will remain in effect throughout the entire term of the mortgage. The title insurance policy will cover the cost of defending a title legal challenge and will also indemnify the policyholder against any loss resulting from title errors or omissions. It also covers other associated costs, such as court costs, title searches, and documentary taxes. Title insurance also provides protection in the event of fraud, forgery, or any other illegal activity that affects the ownership of the property. Title insurance is an important aspect of mortgage law in Washington and is offered as a means of financial protection for both buyers and lenders of real estate. It is important for buyers to understand the benefits of title insurance and to make sure they are protected in the event of a dispute.

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What is title insurance?

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