What is the common goal of both Buyer's and Lender's Title Policies?

The common goal of both Buyer's and Lender's Title Policies is to provide protection against potential legal disputes related to property ownership. These policies are designed to safeguard the interests of both the buyer and the lender in case there are any undiscovered issues with the title, such as liens, encumbrances, or ownership disputes that may arise after the transaction is completed.

The Buyer's Title Policy protects the homeowner's rights to the property, ensuring they are the legitimate owners without any risks from prior owners. Meanwhile, the Lender's Title Policy protects the lender's investment, ensuring that their loan is secured by a valid and uncontested title. Both policies are essential to ensure peace of mind in real estate transactions and to uphold the integrity of property ownership.

Other factors, such as reducing transaction fees, guaranteeing property ownership outright, or increasing property market value, are not the primary goals of these title policies. Instead, their main focus is on defending the parties against potential legal challenges related to title issues.