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Real property

title insurance

Title insurance insures, defends, indemnifies, and protects the policyholder against claims or losses arising from a defect or claim against the title to real property. Title insurance is usually issued to the buyer of real property by the title company that conducted the title search.

In Minnesota, title insurance is a form of indemnity insurance that protects the policyholder from financial loss due to defects in the title to real property. When a property is bought or refinanced, a title company will conduct a title search to ensure that the seller has a valid claim to the property and that there are no liens, encumbrances, or defects in the title. If issues are found, they must be resolved before the transaction can proceed. Once the title is deemed clear, the title company issues a title insurance policy to the buyer. This policy provides coverage for legal defense against claims and pays for the loss of the insured's interest in the property up to the amount of the policy if a covered title defect is later discovered. In Minnesota, title insurance is regulated by the Minnesota Department of Commerce, which sets standards and regulations for title insurance companies to ensure they operate within the state's legal framework.

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Real property

title insurance

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Real property

title insurance

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