What is a title insurance policy?

A title insurance policy is a form of insurance that is intended to protect the property owner against any unknown claims to their property in the state of Washington. It is commonly purchased when a property is bought and sold to protect the buyer from any unrecognized lien or other issue that may be placed on the property that could ultimately prevent the buyer from owning the property. Title insurance policies are issued by private insurers who are licensed in the state of Washington. These policies guarantee that the title to the property is legally valid and that the buyer has full title to the property. The policy covers any potential claims that may arise from past owners, unknown liens, or errors in the county record system. It also covers items like forgeries, forged documents, stolen or forged deeds, or any type of legal flaw in the title. The cost of title insurance in Washington is the same for all buyers and typically based on the sales price of the home. While it is possible for buyers to purchase title insurance at the time of the closing, most buyers opt to require the seller to pay for the policy as part of the sales agreement. Title insurance policies are important for any buyers looking to purchase a home in Washington. It provides protection and security against any unforeseen issues that may be present with the title, ensuring that buyers get the full benefit of their purchase.

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What is a title insurance policy?

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