The main purpose of title insurance is:
a. to compensate the policy holder for any losses incurred from an unidentified defect in the title
b. the prove the seller has the right to sell the property
c. to compensate the property owner if the seller does not have sufficient funds to clear all liens based on discounted selling price
d. to compensate the lender in the event of loss due to default on the loan
Answer: a. to compensate the policy holder for any losses incurred from an unidentified defect in the title
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