0
Owner's Title Policy is good for as long as you own the property. Lender Title Policy is good for the life of the loan. Construction Title Policy is good during the construction period of the property through completion and typically only issued to the Builder during construction time. Therefore, if you bought a property, held it for 30 days and sold it, the Owner's Policy would insure you during that period and if there was a loan, the Loan Policy would insure the lender during that period. Since the life of the policy is good until the property is re-conveyed (new deed) or refinanced (new lender), YOU determine the length of term when changing one of the 2 conditions. If you are asking is there a discounted rate on title for holding a property for a short amount of time or flipping the property? The answer is "possibly". If the Seller has an Owner's Policy issued within the last 10 years from time of new sale, most states offer a re-issue rate vs basic rate ONLY if that Owner's Policy is provided to the title agency at the time the new title insurance is requested. NOTE: The reissue rate is availabe regardless of how long you keep the property, long or short term, as long as the prior Owner Policy is provided.
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
What does the term title insurance mean?
The term title insurance means insurance that covers the loss of an interest in a property due to legal defects and that is required if the property is under mortgage. Most title insurance is lender's title insurance.
What are the current developments relating to short term insurance in South Africa?
current development relaing to short term insurance
What is a title insurance producer?
Generally speaking, a title insurance producer is the same as a title insurance agent.
Does homeowners insurance cover the lenders title insurance?
No it does not. Lenders Title insurance is a whole other form of coverage
Why do title insurance company's ask if a new title insurance request ask if it is a refinance?
Title insurance rates vary depending on if the transaction is a purchase or a refinance
What does the term title insurance mean?
The term title insurance means insurance that covers the loss of an interest in a property due to legal defects and that is required if the property is under mortgage. Most title insurance is lender's title insurance.
What are the advantages in getting short term insurance?
The advantage of short term insurance is that it is, like the name states, short term. You are free to switch insurance companies frequently instead. Short term insurance can also be cheaper.one
Define the role of an buyer in short term insurance?
what is the role players in the short term insurance industry
When would short term insurance be appropriate?
Well, for short term insurance, it would be appropriate if for some reason you just left your full time insurance and you are looking for another full time insurance and you take a short term insurance for a time.
What are the current developments relating to short term insurance in South Africa?
current development relaing to short term insurance
Why was multi-peril short term insurance products developed?
why was multi peril short term insurance products developed
Where can one buy short term car insurance?
There are many places where one can buy short term car insurance. One can buy short term car insurance at popular on the web sources such as USAA Auto and American Family Insurance.
What is a good resource to find information about short term car insurance?
The Money Supermarket website offers information about short term car insurance. The website has a directory of short term insurance providers and information about their offers.
What exactly is cheap health insurance short term?
Short term health insurance is just that. It is health insurance designed for short term use, usually at a largely discounted price due the the abbreviated duration of the coverage.
Do companies offer short term insurance for my travel trailer?
Yes, geico offers short term insurance for my travel trailer
Which companies provide short term medical insurance?
Short term medical insurance is carried by a variety of companies. Many corporations carry this as part of their normal insurance packages. Additionally, major insurance carriers such as Progressive, Allstate, or Farmer's Insurance can carry additional coverage for short term medical insurance.
Where can one find rates on short term health insurance plans?
There are many places where one could find rates on short term health insurance plans. One could check sites such as e Health Insurance for information regarding short term insurance plans.
