Closing Protection Coverage

Ohio Revised Code Section 3953.32 requires title companies to offer buyers, sellers, and lenders the opportunity to purchase closing protection coverage in the event that a Title Policy is issued during a closing. However, if there is No Title Policies issued, it is not available.

  • Purpose = Protect buyers, sellers, and lenders from losses related to the disbursement of funds and the execution of closing documents by a Licensed Title Agent or anyone acting on their behalf.

    • Causes of Loss

      • Fraud, theft, or other failure to properly disburse settlement funds

      • failure to comply with closing instructions

  • Who is covered?

    • ONLY the person addressed in the Closing Protection Letter (CPL)

  • What is the CPL?

    • It is the document issued upon purchase of closing protection coverage

Costs at Four Diamond

If the Lender Purchases a CPL

Buyer: $20 / Seller: $55

If the Lender does not purchase a CPL

Buyer: $40 / Seller: $55

(As of 8/28/25 - subject to change)