For a purchase, the buyer should make the title company or real estate agent aware that you want to purchase an Owner's title insurance policy. In Maryland, the title insurance rates are regulated and controlled by the Maryland Insurance Division. A buyer only pays for an owner's policy one time (at closing) and can transfer the policy to a future purchaser of the property. The cost depends on the purchase price of the property and remains in effect for as long as the purchaser owns the property. Be sure to ask your title agent what the cost of the title premium is prior to closing so there are no surprises. One thing to remember the owner's policy is recommended but not required.
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