Lender's Title Insurance vs. Owner's Title Insurance - Aspen Real Estate
When you buy a home, whether it’s a luxury home for sale in Aspen, a ranch in Basalt, or a condo for sale in Snowmass, you’ll have to pay for some form of title insurance—but it’s important that you know the differences between a lender’s title insurance policy and a homeowner’s title insurance policy.

What is Title Insurance?

Title insurance protects the insured from defects in a home’s title that can affect that person’s ownership in the property.
There are two types of policies available: A lender’s policy and a homeowner’s policy.

Lender’s Title Insurance Policies

The lender’s title insurance, which you’ll be required to buy when you purchase your home, only protects the lender—not you. The amount of the policy is typically based on the dollar amount of your loan, and it saves the lender from a loss if a title problem surfaces after the purchase is complete.

Owner’s Title Insurance Policies

A homeowner’s title insurance policy is typically issued for the value of the home. Usually, you’ll pay a one-time fee at closing, and the insurance will cover you as long as you (or your heirs) maintain an interest in the property.
This type of policy will protect you if a title problem surfaces that allows someone to challenge your ownership of your home. Some policies also pay legal fees that homeowner’s incur while defending a claim to a title.

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