What is a title insurance policy?

A title insurance policy is a type of insurance that helps protect people who buy property in Washington against any potential problems with their title or ownership of the property. A title insurance policy provides coverage if there are any issues or rights that a previous owner had that you don’t know about, or if a third party is claiming a right to the property. Title insurance also helps protect against any undisclosed liens or defects that may be affecting the property. The title insurance policy is a one-time payment that is typically paid when the property is bought. This is the lender’s way of protecting their loan and it’s usually required for most real estate transactions in Washington. Once the policy is active, it provides coverage for as long as the policyholder owns the property. The title insurance policy is designed to protect buyers from any financial losses, and it is important to read the terms and conditions of the policy to ensure that you are properly covered for any potential issues. It is also important to understand the limits of coverage, as it may not cover everything. Furthermore, it is important to verify the title by consulting with an experienced real estate lawyer or title professional, who can provide guidance and protect your legal rights.

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What is a title insurance policy?

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