Torrens System
Means of land title registration used in some states that in effect, provides a government sponsored form of title insurance. Under this system, a government official, such as county recorder or county clerk, maintains Torrens System deed records and guarantees clear title when property is transferred. Fees charged for registration and transfer of title are used in part to finance a Torrens insurance fund in each jurisdiction to compensate claimants for damages resulting from errors.
Popular Insurance Terms
Entitlement of a pension plan participant (employee) to receive full benefits at normal retirement age, or a reduced benefit upon early retirement, whether or not the participant still ...
Endorsement to a business property floater policy that covers neon signs for all perils, both while they are being moved and once they are in place. Signs that are attached to a building ...
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Coverage in event of damage or destruction of animals that are being shipped. ...
Reduction in automobile insurance rate for a student with a good academic record. Some statistical studies suggest that good students have fewer automobile accidents. ...
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