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Sander Scott explains why property owners need title insurance. One example: a homeowner skipped owners' title insurance while the bank got a lender's policy, leaving the owner completely unprotected if title problems emerged.
Sander Scott explains why property owners need title insurance. One example: a homeowner skipped owners' title insurance while the bank got a lender's policy, leaving the owner completely unprotected if title problems emerged.
when title insurance has been activated to kind of save a property owner's rear end?
I'll tell you a situation that it didn't save somebody. This person did not invest in title insurance and the bank did. So obviously a financial institution invested in the own loan policy, but the owner chose, they elected out. So there was a cloud on title. They went back to the financial institution and said, Hi, like, would you be interested in letting us get coverage for the cloud on title through your policy? And they said, no, I'm sorry, but that insures the bank, not you.
