What type of policy is issued to a fee simple owner of a property?

The type of policy issued to a fee simple owner of a property is an owner’s policy. This policy offers protection to the property owner for issues related to the title of the property. It safeguards against potential disputes over property ownership, defects in title, and liens that may not have been uncovered during the title search process. The owner’s policy typically covers the property owner for the duration of ownership and provides assurance that their legal rights to the property are protected.

In contrast, a loan policy is designed to protect the lender’s interest in the property, a leasehold policy pertains to the rights of a lessee or tenant, and a mortgage policy is specifically focused on the rights of the lender when a mortgage is issued. Each of these other policies addresses different interests in property ownership, while the owner's policy directly corresponds to the full ownership interest of the fee simple owner.