The Owner’s Title Policy
Sometimes titles problem occur that could not be found in the public’s record or are inadvertently missed in the title search process. To help protect you in these events, it is recommended that you obtain an Owner’s policy of Title Insurance to ensure you against the most unforeseen problem.
Owner’s Title Insurance, called an Owner’s Policy, is usually issued in the amount of the real estate purchase. It is purchased for a one-time fee at closing and lasts for as long as you or your heirs have an interest in the property. Only an Owner’s Policy fully protects the buyer should a covered title problem arise with the title that was not found during the title search. Possible hidden title problems can include: