What is tib insurance?

TIB insurance, or Title Insurance, is a type of insurance that protects property buyers and lenders from financial losses due to defects in a property's title. This can include issues such as liens, encumbrances, or ownership disputes that may arise after the purchase. TIB insurance ensures that the buyer has clear ownership of the property, providing peace of mind during real estate transactions. It typically involves a one-time premium paid at closing.