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Title Insurance
Title
insurance is a uniquely American form of protection.
The haphazardness
of early American land sales - exemplified by the wild and
wooly days of land rushes and frontier settlements - resulted
in the first title insurance policy being sold in the 19th
century.
Wild West
land swaps, in turn, were based on the British colonial deed
conveyance system in which land was sold and transferred along
with a packet of deeds to the new owner. Despite careful review
by a lawyer, titles could be easily be disputed, resulting
in a surprise claim by the rightful owner.
The troubled
history of American title claims, combined with regulations
that continue to vary state by state (and sometimes within
states) means that it is almost impossible to obtain a mortgage
in the U.S. today without first buying a title insurance policy.
On the
Web, find out more about title insurance, what it protects,
how much it costs and additional tips, advice, facts and information
on the insurance policy that American homeowners can't do
without...
Title
Insurance - Basic overview with examples of how title
claims may arise, who is responsible for title claim disputes,
and title insurance benefits to both lender and buyer.
Cut
Your Title Insurance Costs - From Kiplinger's, with
a jaundiced view of why title insurance is necessary, basic
costs, and advice on how to avoid overpaying.
Title
Insurance FAQ - Questions answered on title insurance
requirement, how it protects the borrower, purchasing a new
policy upon refinancing and related topics.
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