Title Insurance

• Title insurance insures a deed that may have been improperly prepared. In the case that the insured party suffers a financial loss from an incomplete, fraudulent or otherwise problematic deed, title insurance reimburses that loss.
  
  

Executor

• A will often names an executor, who is a person that is legally responsible for settling the deceased person's finances. The executor essentially takes over from the deceased person, and may be a friend or relative, or a paid professional executor. The executor is legally bound to act in the interests of the estate.
  
  

Duties

• One of the chief duties of an executor is to gather the deceased person's assets, inventory them and manage them until the estate is settled. As a result, the executor is legally required to find deeds to any real estate as well as any documents relating to those deeds, including insurance policies.
  
  

Managing Assets

• The executor must maintain all real estate in the estate and attempt to preserve the value of the estate. In managing real estate, the executor may need to make a claim with the title insurance company or may decide to take out a title insurance policy. While the executor can and should have control of the deed, there is always the possibility that an executor is not acting in the interests of the estate or the beneficiaries. However, beneficiaries of the will must challenge the executor's actions in court if they are unsatisfied, which can be a lengthy and expensive process.