TITLE INSURANCE

Title insurance:

Purchased with a one-time fee at closing, title insurance protects owners in the event that title to the property is found to be invalid or defective. Coverage includes "lenders" policies, which protect buyers up to the mortgage value of the property, and "owners" coverage, which protects owners up to the purchase price. In other words, "owners" coverage protects both the mortgage amount and the value of the down payment.