Page 20 - Homeowners Manual - Santa Clara County

9� Owner’s Title Insurance Policy
• Research the value and importance of an Owner’s Title Insurance Policy early on in the process of obtaining
a loan and closing on the purchase of your home�
• Homebuyers often assume that the Lender’s Title Insurance Policy protects them from challenges to their
ownership rights in the property being acquired� This is not the case� Instead, the homebuyer’s interests are
protected by an Owner’s Title Insurance Policy� This insurance coverage typically protects against adverse
matters such as ownership challenges, errors and omissions in deeds, forgery and undisclosed heirs, among
other things� It also provides coverage for the attorney’s fees that arise where legal challenges to your
property’s ownership occur� Its cost is typically based on the home’s total purchase price, and is a one-time
fee paid at closing�

10� Ask Questions
• This is one of the most important purchases of your life� Do not be afraid to ask questions of your lender, real
estate agent and escrow officer�

Consumers are given more time to consider
their options because the Closing Disclosure (CD) form
is now provided three days before signing documents�

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