Mortgage Loan Originator (MLO) Licensing Practice Test 2026 – Your All-in-One Guide to Exam Success!

Owner's title insurance does not require renewal. Once an owner purchases a title insurance policy, it typically remains in effect for as long as they own the property. This insurance provides protection against issues related to the title that could arise, such as undiscovered liens or claims against the property, and covers legal fees associated with defending against such claims.

The policy is a one-time premium payment made at the closing of a real estate transaction, which means the borrower is protected indefinitely as long as they maintain ownership of the property. Other types of insurance, such as homeowners' insurance or mortgage insurance, usually require annual or periodic renewals, but owner’s title insurance is distinct in that it does not have these requirements.