home owners insurance explained
the sale of rental property house .. question about title insurance?
I'm selling a house to rent their own. The agreement provides that "Seller agrees to purchase a standard form of title insurance in the amount of the purchase price, saying the mortgage lender against loss by reason of encubrances title defect. "What is the purpose of this and the owner should have to be the one to buy insurance in the light (I think means) protection for the buyer. I own the house free and clear voluntary. Could someone explain this purpose? If the buyer is not the pay for insurance that tilde? When I bought the house some years ago, I was one who had to pay for the title search.
You buy at this time the buyer acquires the property. This is to ensure the buyer receiving a clear title when they sell it to them. This is usually paid by the seller (who is assured). Some lenders require the seller to pay for it, but otherwise it is an element that can be negotiated.
