Refinance, warranty deed, and title insurance

[Ying Tang]

Hi BP Community,

I have a question about refinancing and title insurance. We completed a refinance this week, and as part of the process, I signed a warranty deed transferring ownership from both my husband and me to just him. My question is: what happens to the title insurance we purchased when we originally bought the property?

[Peter Walther]

Quote from @Ying Tang:

Hi BP Community,

I have a question about refinancing and title insurance. We completed a refinance this week, and as part of the process, I signed a warranty deed transferring ownership from both my husband and me to just him. My question is: what happens to the title insurance we purchased when we originally bought the property?

Assuming your husband is a named insured on the policy, I believe his coverage should continue as long as he holds an interest in the property.  In addition, I believe if you read the Conditions section of the policy, you might find that you continue to be an Insured since you have potential liability for the warranties you gave in the deed to your husband.  I'm not an attorney and this isn't legal advice, just my opinion.