The most common type of title insurance is lender’s title insurance, which the borrower purchases to protect the lender. The other type is owner’s title insurance, which is often paid for by the seller to protect the buyer’s equity in the property.

Who pays for title insurance in Louisiana?

In most areas of Louisiana, the seller pays for the buyer’s policy and the buyer pays for the lender’s policy. The charge for a lender’s policy is relatively modest because it is based on the same title research as the buyer’s policy. The cost of title insurance is related to the price of the real estate.

Who pays closing cost in Louisiana?

According to lines 235 to 237 of the Louisiana Residential Agreement to Buy or Sell, “SELLER’s title shall be merchantable and free of all liens and encumbrances except those that can be satisfied at Act of Sale. All costs and fees required to make title merchantable shall be paid by SELLER.”

Where do I go to find my title policy?

In most cases, this is your title agent, or in some cases, this point of contact may be your real estate attorney. If the transaction was fairly recent, there’s a chance your title agent or lawyer may still have your policy paperwork on file.

How to contact a title company when buying a home?

Consumers should feel free to contact their title company at any time to get answers to their questions on title searches, title abstracts, title insurance, escrow accounts or closings. Buying a new home? Find a local lender on Zillow who can help.

What to look for in a title company?

Ask your real estate agent, peers who have recently bought a home or your lender for recommendations for a title company. Then, do your homework on the title companies recommended. Look for a title company that has years of experience doing this (have they done hundreds or even thousands of these kinds of transactions?).

What to do if you lost your title insurance policy?

March 23, 2017 1 Contact the Title Agent If you can’t find your title insurance policy, start your search with the contact who handled the transaction. 2 Contact the Title Insurer If you don’t have your policy on hand, it might be a bit difficult to follow its instructions for contacting the insurer. 3 Contact the Lender