There are two types of title insurance: Owner's Policies
and Lender's Policies. Owner's title insurance protects the purchasers of real estate against
title defects that may exist affecting the property. Most purchasers of real estate will require that the seller provide
them with an Owner’s title insurance policy. In a purchase
or refinance transaction, the Lender will require a Lender's Policy. Lender's title insurance insures the
mortgage lender as to the priority of its lien, meaning there are no other mortgages, liens or judgments recorded prior to
the mortgage. In a refinance transaction, the borrower usually is required to purchase a Lender's Policy of title insurance. HOW LONG DOES THE TITLE PROCESS TAKE? We can usually close within 72 hours after receiving a properly executed contract or title order from the Lender,
assuming there are no issues with the title and all parties and lenders are prepared. For more information about title
insurance from the Colorado Division of Insurance, click here.
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