Both forms of title insurance work the same way. The difference between the two is the insured party. A mortgage title insurance policy insures the lender. A fee policy insures the owner.

A title search is performed on the public records in the property's county clerk's office. The search is done to determine whether or not someone can make a claim to the subject property. The term good and marketable title refers to a clean chain-of-title. In other words, there are no adverse parties that have a legal claim to the subject property.

Insuring that my clients receive good and marketable title is one of the most important services I can provide. As a buyer, you will be required to obtain Mortgage Title Insurance by your lender. However, I highly recommend you obtain an Owner's Policy to protect your interests. I will gladly discuss the benefits with you. Often an Owner's Policy can be obtained at the same time as a Mortgage Insurance Policy, and at a discounted rate.

Title insurance rates are regulated by New York State. No title insurance company can charge more for a policy than any other company.