Title insurance is a form of insurance that ensures that no one has a claim on your property, whether it be a past mortgage holder, a lien holder, a former spouse, or an heir to a property that comes along and says that they have a claim to your property. Title insurance ensures you, to the amount of the purchase price, that no one can come back and have a claim on your property. If you’re getting financing on a property, most lenders and banks are going to require that you obtain title insurance to protect their interests as well as your own.