RealTown Words

Closing Protection Letter

A document issued by the title insurance company to insured lenders and, in some unusual cases, to insured owners. The letter indicates the title insurer’s responsibilities for negligence, fraud, and errors that might be made when their agents or approved attorneys handle the closing. (“quasi-fidelity coverage”).

This "Word of the day" is excerpted from The Language of Real Estate, 6th Edition by John Reilly (published by Dearborn Real Estate Education, 2006 copyright). To purchase the complete book, with over 2800 key terms and definitions, or to browse through Dearborn's hundreds of other professional real estate titles, including Real Estate Technology Guide by Klein, Barnett, Reilly, click here.