Business / Real Estate / Title Insurance: A comprehensive indemnity contract under which a title insurance company warrants to make good a loss arising through defects in title to real estate or any liens or encumbrances thereon. Unlike other types of insurance, which protect a policyholder against loss from some future occurrence (such as a fire or auto accident), title insurance in effect protects a policyholder against loss from some occurrence that has already happened, such as a forged deed somewhere in the chain of title. Needless to say, a title company will not insure a bad title any more than a fire insurance company would insure a burning building. However, if upon investigation of the public records and all other material facts, the title company feels that it has an insurable title, it will issue a policy.
Insurance Verb Synonyms: assurance, surety, indemnity, indemnification, guarantee or guaranty, warranty, bond, security, protection, cover
Title Noun Synonyms: caption, inscription, headline, head, subtitle, legend, subhead, rubric
Title Adjective Synonyms: name
Business / Real Estate / American Land Title Association (ALTA) Policy: A title insurance policy that protects the interest in a collateral property of a mortgage lender who. MORE
Business / Construction / Title: Evidence (usually in the form of a certificate or deed) of a person's legal right to ownership of a property. MORE