Title insurance can be explained as insurance covering your interest in a specific property against loss resulting from one or more specified causes up to the stipulated policy coverage amount.
A warranty deed is not a substitute for title insurance because, if the grantor later dies or goes bankrupt, the grantee may not be able to exercise the warranty.
Despite advances in technology that allow homebuyers to shop for title services, many homebuyers remain unaware that they may select their own title insurance or settlement company.
The term is used in legal proceedings other than bankruptcy to refer more generally to embezzlement; it is often used in the context of the title insurance business.
They are also not part of the title insurance premium, though the title insurer may include those fees within its invoice as a convenience to the attorney rendering the opinion.
These mortgage fees, also called settlement costs or closing costs, cover every expense associated with a home loan, including inspections, title insurance, taxes and other charges.