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The total costs of a title insurance premium, ... So a lender’s title insurance policy would cost you around $1,167 assuming the average rate of $3.50 per $1,000 (or $350 per $100,000) of loan ...
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Title issues are not common, but if the title search uncovers one — or if it doesn’t, but one comes up later — there can be considerable legal costs. This is where title insurance comes in.
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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.
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