Title Insurance

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • title defect insurance

Definition of Title Insurance

  1. A type of insurance that protects the policyholder from problems in the title of property or from challenges to the ownership of property. Title insurance covers a number of risks including fraudulent attempts to take a title through forgery, encroachments on the policyholder's property, easements, zoning non-compliance, unpaid liens, or having someone other than the policyholder on the title.

Related Terms and Acronyms

  • Abstract of Title (ab) Abbreviation,
    • A written history of all the transactions that bear on the title to a specific piece of land. An abstract of title covers the time from when the property was first sold to the present.
    AB is a common abbreviation for Abstract of Title when used in property listings and real estate classifieds.
  • Title Binder Definition,
    • Insurance that covers both the buyer and seller of a property until the property has sold.
  • Title Report Definition,
    • A report that reveals any competing claims, liens, or other problems relating to a property. A title report is required before title insurance will be issued. Also known as a "Preliminary Title Report" or "Prelim."
  • Cloud on Title Bank,
    • A claim on title to property that could impair the ability to transfer ownership.
  • Title Defect Definition,
    • A legal claim by others to property, or the right to make demands upon an owner.
  • Land Title Definition,
    • The legal document conveying title to a property.
  • Title Definition,
    • Evidence of a person's right to possession ownership of a property.
  • Title Search Definition,
    • A check of public records to make sure that the owner of real property has the right to transfer ownership. A title search is designed to spot gaps in the chain of title, liens, problems with the legal description of the property, judgements against the owner, and the like.
  • Insurable Title Definition,
    • A title that can be insured.
  • Chain of Title Definition,
    • Legal records that trace ownership of a property from the most recent owner to the original owner.
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