What does the term "insured" typically refer to in a title insurance policy?

In the context of a title insurance policy, the term "insured" typically refers to the individual or entity covered by the policy. This could be a property owner, a mortgage lender, or any party that holds an interest in the property being insured. The purpose of title insurance is to protect the insured from losses arising from defects in the title, such as liens, encumbrances, or legal issues that were not discovered during the title search process.

This is crucial because the insured party depends on the policy to safeguard their investment and financial interest in the property. Should a title issue arise, the title company will provide coverage and remedy the situation, ensuring that the insured's rights to the property are upheld.

The other terms mentioned, such as the property being insured and the insurance company, refer to different aspects of the title insurance process but do not define the term "insured." The lawyer handling the case may assist in the transaction, but they are not the insured; instead, they are typically a professional involved in facilitating the legal and transactional aspects of real estate dealings.