Hi Lisa,


I am not sure if I understand the question. However, I think what you are asking is what are the obligations of the homeowner to obtain title insurance, and what is the cost. If the homeowner has obtained title insurance at the time of purchase, he does not need to purchase it again for the duration of his ownership. However, he does need to be mindful of inflation. At the time he purchased his homeowner's policy he should have looked into an inflation endorsement to keep pace with the increase in value of his real estate over the years. If he has not done so, he should look into it. Otherwise the inflated value of his real estate may excede the limits of his policy. With respect to a refinance, the new mortgagee is certainly going to insist on the homeowner's purchasing
a title insurance policy to protect the new lender in an amount equal to the loan. If the homeowner has previously purchased a loan policy, he is probably entitled to a discount on the new policy. However, he will need to explore that with the title insurance company. He will also need to produce a copy of the previous policy in order to get the reduction

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