- Purpose
Owner’s: Protect the homeowner’s financial interest and ownership rights
Lender’s: Protects the lender’s financial interest (their loan amount) - Coverage
Owner’s: Covers financial and legal costs of the homeowner in resolving title issues, like unpaid liens from previous owners, fraud, boundary or ownership disputes
Lender’s: Covers the lender’s loan amount and legal costs if title issues surface, like for unpaid liens from previous owners, document fraud, boundary or ownership issues - Duration
Owner’s: As long as the homeowner owns the property
Lender’s: Until the loan is paid off or refinanced - Requirement
Owner’e: Optional
Lender’s: Most lenders require it when financing a home purchase
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Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379
