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title policy
noun
An insurance policy on a piece of real estate for which the title deeds may be incomplete or not properly searched.
Exact(36)
(The co-op corporation typically has a standard title policy on the building).
That may change, however, now that the First American Title Insurance Company of New York has introduced a title policy for co-op shareholders.
"A title agent who examines a survey and sees a fence that is not on the property line will usually identify the encroachment as an exception to the title policy," Mr. Brav said.
The title policy underwriter will be listed on the commitment.
As little as $99 of your $1,472 title policy covers the search and the cost of paying off the extremely rare claim.
One-third of title policy applications have a problem that must be resolved before coverage, and without that cure, one in three American homeowners wouldn't obtain clear title to their homes, the single largest asset most of us ever own.
Similar(24)
A title insurance policy is a policy that protects the buyer and the lender in the event there are problems with the title to the home or to the land after the sale closes.
To obtain a title insurance policy, contact title insurance policies to obtain quotes and determine which policy offers the best protection for the least amount of money.
We're big believers that when you buy a home, you should obtain not only a title insurance policy that protects the lender on that purchase but an owner's policy, as well.
In New York, a title insurance policy on a $250,000 home, including the title search, would be approximately $1,600.
As a result, in the early 1990s, the Title Insurance Rate Service Association (or Tirsa) created an endorsement to the standard title insurance policy that would cover co-ops.
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