This type of insurance protects against problems in the title to your property. It focuses on the past, not the future. It insures you that your interest in the property will be secure as of the time that interest was acquired. For example, in the case of an owner policy, you are insured as of the time of purchase of the property. A mortgagee policy insures the lender as of the time the mortgage is recorded. Because the insurance covers against loss by reason of the existence of a title problem at a particular time, there is only a single premium.
The Law Offices of Fred V. Peet, P.C. is licensed by the State of Vermont to sell title insurance. As agents for Vermont Attorneys Title Corporation, we can issue both a mortgage policy and an owner policy for your transaction. We can also prepare the Title Insurance Commitment as may be required by your lender.