Because
of local conditions, varying premium rates are established--sometimes,
prescribed by the state agency responsible for the proper operation of
title insurance companies. However, the pure basic premium rate for owner's
title insurance varies within the narrow range of $3.50 to $5.00 per $1,000
of coverage. In some areas the "title insurance" rate quoted
to the public is a combined charge for title examination and title insurance.
(See next question and answer). Under any circumstances, this premium
is payable only once. There is no further charge--there is no recurring
premium although the policy is effective for as long as the insured or
his or her heirs have any interest whatsoever in the property--and afterwards
so long as liability under any warranty of title exists.