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There are two types of title insurance: a mandatory lender's policy, whose cost is based on the mortgage amount, and an optional owner's policy, whose cost is based on the home purchase price.
The cost of title insurance has two components: premium charges and service fees. Title insurance premium rates are based on five cost considerations, including those related to: Maintaining current title information on property local to that operation, i.e., title plant; Searching and examining the title to subject properties
Mortgage protection insurance is an insurance policy that pays off the remainder of your mortgage if you pass away or if you become disabled and can’t work. In that way, it functions similarly ...
Quotes for enhanced policies range from 10% to 40% more than the premium for a regular title policy. Make sure the policy covers title theft before you sign up.
In cases of partial vesting, a "vesting schedule" is a table or chart showing the portion of a right that is vested over time; typically the schedule provides for equal portions to vest on periodic vesting dates, usually once per day, month, quarter, or year, in stairstep fashion over the course of the vesting period.
A full coverage search is usually done when creating a title report for sale/resale transactions and for transaction that involves construction loans. It generally includes searches related to property lien, easements, covenants, conditions and restrictions(CC&Rs), agreements, resolutions and ordinances that will affect the real property in question.
Coverage C of your home insurance policy provides financial protection for your personal property. Your personal property could be covered on an open-peril basis or a named-peril basis.
Legal protection insurance (LPI), also known as legal expenses insurance (LEI) or simply legal insurance, is a particular class of insurance which facilitates access to law and justice by providing legal advice and covering the legal costs of a dispute, regardless of whether the case is brought by or against the policyholder. Depending on the ...