Closing Requirements: Title & Homeowners Insurance Attorney Procedures

Title insurance is a type of insurance that protects a property owner or lender against any potential losses or claims that may arise due to defects in the title or ownership of the property.  Title insurance provides financial protection in case any unforeseen problems arise in the future. On the other hand, homeowners insurance is designed to protect the physical structure of your home, as well as your personal belongings, from various risks such as fire, theft, vandalism, and natural disasters. It also provides liability coverage in case someone is injured on your property and decides to sue. In NYC, both title insurance and homeowners insurance are crucial and required when buying a property.