What is the difference between a title search and a title insurance policy?

A title search and a title insurance policy are two different parts of residential real estate law in Delaware. A title search is the process of examining a property’s history to make sure it has clear legal ownership. This can include researching the chain of ownership, verifying any liens and mortgages, and making sure all legal documents associated with the property are up to date. A title search is conducted by a real estate attorney or title company. A title insurance policy is a form of insurance that gives the current owner of a property protection against any claims or disputes that may arise over the title to the property. Title insurance is purchased from an insurance company and is often required by the lender for a mortgage. Title insurance helps protect the owner from financial losses due to a dispute over ownership of the property. Title searches and title insurance policies are two separate but important parts of residential real estate law in Delaware. A title search makes sure the property has clear legal ownership while a title insurance policy helps protect the owner from financial losses due to a dispute over ownership of the property.

Related FAQs

What is a homeowners association?
What is a certificate of title?
What is a Mechanic's Lien?
What is an assignable mortgage?
What is a lease option?
What is a condominium and what are the requirements of purchasing one?
What is a Release of Lien?
What are the pitfalls of foreclosure?
What is the difference between a lease with option to purchase and an option to purchase?
What is a real estate broker’s fiduciary duty?

What is the difference between a title search and a title insurance policy?

Related FAQs

Related Blog Posts