Title Insurance

Title insurance fees are often split into two policies. The "Lender’s Policy" protects the bank and is strictly a buyer expense because it is a condition of the loan. The "Owner’s Policy" protects the buyer’s equity. Who pays for the Owner’s Policy is a matter of local custom and negotiation; in some regions, the seller pays it to prove the title is clear, while in others, the buyer pays it. Students should check the specific contract to see which box is checked.