Hunter Stevens Land Title Agency,LTD. Canfield 330-533-6119 Howland 330-609-7052
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Mortgagee title insurance differs from owners title insurance in that the mortgagee policy insures the interest of the lender. The lender interest and owner interest are entirely different and are not transferable. Because the mortgagee policy insures the interest of the lender, the buyer pays for it as a part of the requirements for the loan.
Title insurance provides the buyer with complete assurance about the validity of the title, relieving both buyer and seller of liability for title problems such as fraud, improper transfers, undisclosed heirs, and human error in transcribing information. If someone claims they have rights to your land and you are covered by owners title insurance, the title company must defend your interest in court. Owners title insurance covers you for as long as you own the property.