Definition
Title Insurance
Insurance against defects in the ownership history of a property, paid once and covering past rather than future events.
Nearby terms
Title
The legal right of ownership in real property, as distinct from the deed, which is the document transferring it.
Title Commitment
The title insurer's document stating the terms on which it will issue a policy, including exceptions and requirements.
Title Search
An examination of public records to establish the chain of ownership and identify liens, easements and other encumbrances.
TRID
The TILA-RESPA Integrated Disclosure rule, which introduced the Loan Estimate and Closing Disclosure and their timing requirements.
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