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
Person who has been authorized by the insurance company to pay a loss (s) incurred by the insured. ...
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Section describing coverages under a policy. Elsewhere in the policy other sections may restrict or exclude coverages. ...
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