Question

How often must a borrower renew owner's title insurance?

A) With each refinance
B) When the house is sold to the next owner
C) Owner's title insurance expires every seven years
D) It is not necessary to renew

Answer 1

D) It is not necessary to renew owner's title insurance.

Owner's title insurance provides coverage for as long as the homeowner owns the property. It does not need to be renewed or extended, and it typically lasts as long as the homeowner or their heirs have an interest in the property. However, if the homeowner refinances their mortgage, they may need to purchase a new lender's title insurance policy, which protects the lender's interest in the property.

Step-by-step explanation: