What Is Meant by Title Insurance? How Is It Useful

question 16

Essay

What is meant by title insurance? How is it useful during the sale of a real estate property?

---

Definitions:

Covert Collusion

A secret agreement between firms to fix prices, limit production, or divide markets, which is illegal and anti-competitive.

Cartel

A group of firms behaving like a monopoly.

Competitive Spectrum

The range of competition levels across different markets or industries, from perfect competition to complete monopoly.

Collusion

The practice of firms to negotiate price and/or market share decisions that limit competition in a market.