Civic · 6 pages · 12 min
Why title insurance exists
Title insurance indemnifies covered defects a search missed or could not see, and it is not a home warranty.
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From the opening
Title insurance is a contract to defend or pay for covered losses if a title defect already existed when the policy was issued. It sits on top of a search, and it exists because a reading of the public records cannot catch every bad link or every hidden claim. The opening covers indemnity for covered title defects, exceptions stay with the insured, and owner policies differ from loan policies.
The rest of the brief — the later sections and the reading notes — opens after Stripe confirms payment.
Inside
- Indemnity for covered title defects
- Exceptions stay with the insured
- Owner policies differ from loan policies
- Later owner acts are outside
- Where the idea stops applying
- A distinction worth keeping
Sources
- Title insurance as indemnity
- Owner policy and loan policy