What is a title insurance policy?

A title insurance policy is a type of insurance that protects a homeowner from certain losses that may occur as a result of title problems with their residential real estate. In South Carolina, title insurance is usually paid for by the buyer at closing and is a one-time fee. Title insurance protects the homeowner against any losses due to unknown defects in the title to the property. If there are issues with the title that were not discovered during the search, the homeowner can be protected from financial loss. This could include issues with liens, easements, or boundary disputes. Furthermore, the title insurance policy helps protect the homeowner by ensuring that the title to the property is free and clear of any errors, or omissions. This is especially important, since an inaccurate title can lead to legal problems or financial losses in the future. Lastly, title insurance covers the lender in case of any legal issues related to the title. The policy will help the lender recover any losses and helps ensure that the homeowner can keep the property. Overall, a title insurance policy is an important tool for protecting homeowners in South Carolina from any legal or financial losses due to a defective title or unknown title problems. It helps ensure that the homeowner can keep their property and that the lender is covered in any legal disputes.

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What is a title insurance policy?

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