When you're buying a property, you're not just purchasing the physical land and structure; you're also acquiring legal rights to the property. This is where title insurance comes in. It's a crucial aspect of real estate transactions that can protect you from potential problems with the property's title. Let's break down what title insurance is and why it's important for homebuyers.

What is Title Insurance?
Title insurance is a policy that protects real estate owners and lenders against any property loss or damage they might experience because of liens, encumbrances, or defects in the title to the property. Essentially, it safeguards against any legal issues that might have occurred before you purchased the property.
There are two main types of title insurance:
Owner’s Title Insurance: This protects the property owner if there are any issues with the title. It's a one-time fee paid at closing and lasts as long as you or your heirs have an interest in the property.

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