Definitions for "TITLE POLICY"
A contract of indemnity for loss resulting from a defect in the title to the interest or lien in real property insured.
Also required by Lenders, the title policy insures the title against defect. The title policy assures the lender that good and clear title is secured.
Insurance Policy on the ownership of real property, protects against defects in title.
See Seller's Statement definitions.