On the other hand, an owner’s policy insures your ownership rights to the property. Even though you’ll pay for this policy only once, your coverage will last for the duration of your ownership.

Whenever a property, either residential or commercial, is financed, bought, or sold, a record of that transaction is generally filed in the public archives.

Additionally, records of other events that may affect ownership of the property, such as liens or levies, are also archived.

When you buy title insurance for your property, Concourse searches these records to find – and remedy, if possible – several types of ownership issues. First, we search the public records to determine the property’s ownership status. After this search, we will determine the insurability of the title.

If you take out a mortgage when you buy your property, your lender will likely require a lender’s policy. This protects the lender’s interest in your property until your loan is paid off or refinanced.

On the other hand, an owner’s policy insures your ownership rights to the property. Even though you’ll pay for this policy only once, your coverage will last for the duration of your ownership.