1. It protects your ownership right to your home both
from fraudulent claims against your ownership and from
mistakes made in earlier sales, such a mistake in the
spelling of a person’s name or an inaccurate description
of the property.

2. It’s a one-time cost usually based on the price of the
property.

3. It’s usually paid for by the sellers.

4. There are both lender title policies, which protect the
lender, and owner title policies, which protect you. The
lender will probably require a lender policy.

5. Discounts on premiums are sometimes available if the
home has been bought within only a few years since not
as much work is required to check the title. Ask the
title company if this discount is available.

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