Title Insurance Act

The Title Insurance Act regulates the title insurance industry, which protects property buyers and lenders against potential losses from defects in property titles, like liens or ownership disputes. This law ensures that title insurance companies operate fairly and transparently, providing coverage that meets specific standards. It also mandates clear disclosure of terms and conditions to consumers. Essentially, the act aims to maintain the integrity of property transactions and protect consumers by ensuring that they understand what their title insurance covers and their rights during the transaction process.