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The first title insurance company, the Law Property Assurance and Trust Society, was formed in Pennsylvania in 1853. [1] Typically the real property interests insured are fee simple ownership or a mortgage. However, title insurance can be purchased to insure any interest in real property, including an easement, lease, or life estate.
In property law, title is an intangible construct representing a bundle of rights in (to) a piece of property in which a party may own either a legal interest or equitable interest. The rights in the bundle may be separated and held by different parties. It may also refer to a formal document, such as a deed, that serves as evidence of ownership.
In the event of a title dispute arising during or after a sale, the title insurance company may be liable for covering specified legal damages, depending on the terms of the policy.
This is a list of personal titles arranged in a sortable table. They can be sorted: Alphabetically; By language, nation, or tradition of origin; By function. See Separation of duties for a description of the Executive, Judicial, and Legislative functions as they are generally understood today.
Here’s what it means to have clear title. ‘Clear title’ meaning. A clear title, also known as a “clean title,” is a property title that is free from liens or additional issues that could ...
Salvage title vehicles won't get a high payout if they're involved in an accident, and you may end up paying more in insurance than you would for other vehicles.
In the United States, the buyer of a property will usually purchase title insurance, which protects the buyer from any title problems that may arise after sale, such as liens that were missed during the title search. The title insurance company issues a report and an insurance policy in support of its findings. However, title searches are most ...
Real estate is one field where the chain of title has considerable significance. In real estate transactions in the United States, insurance companies' issue title insurance based upon the chain of title to the property when it is transferred. Title insurance companies sometimes maintain private title plants that track real estate titles in ...