What is Title Insurance?

Title Insurance is a unique type of insurance in that it provides coverage against ownership issues that have already occurred. There are two main types: Owner’s Policies and Lender’s Policies. Owner’s policies insure you and your heirs against property loss or damage that may arise due to filing errors, forgeries, and undisclosed heirs for as long as you own the property. When you get a loan to purchase or refinance your property, most lenders will require that you purchase a Lender’s Policy of Title Insurance insuring them against title issues.

The State of Utah requires that title insurance is issued when a title insurance company handles an escrow closing. As Buyers and Sellers pay for the title insurance, it is their right to select the title insurance company they close with.