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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 Alaska, title insurance is a form of indemnity insurance that protects the holder from financial loss due to defects in a title to a property. The title insurance policy covers the policyholder for any claims and legal fees that arise out of such defects as long as the policy is in effect. Typically, a title insurance policy is purchased during the real estate transaction process, and the title company that conducts the title search will issue the policy. This ensures that the buyer has clear ownership of the property free from any undisclosed liens, encumbrances, or other defects in the title. The Alaska Division of Insurance regulates the title insurance industry, ensuring that title insurance companies comply with state statutes and regulations. It's important for buyers to understand that title insurance does not provide a guarantee of the title, but rather protection against loss should a covered defect be found.

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Real property

title insurance

As a LegalFix Member You Will Be an Important Client of Local Law Firms

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Alaska State Code

Alaska State Code

Real property

title insurance

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