Title insurance

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Title insurance protects a buyer from financial loss if there are claims or liens against the property that are not discovered until after the sale completes. Title insurance gives buyers the confidence that there are no unknown claims against the property being purchased and the protection that if some are discovered later, their financial interests are protected and covered by an insurance company.

Most mortgage transactions require title insurance. Any bank that is using a piece of property as collateral is going to require some form of title insurance in order to make sure there isn't someone else holding the property as collateral that could jeopardize their position.