Question: What is good title insurance?

John C. Koechel: Title insurance is a tool that a buyer and often lenders use to ensure or confirm that the buyer of a piece of property is obtaining a good and what they call a "marketable" title to that property; that there aren’t other owners besides the owner in a given transaction who’s purporting to sell the property; that there isn't another party out there with an interest; and that there aren’t other, let’s say, encumbrances or other issues that cloud the title to the property.