Which legal interest is specifically mentioned as insurable?

The insurable legal interest explicitly recognized in title insurance is the leasehold interest. Leaseholds represent a tenant's right to occupy and use property that they do not own, typically under a lease agreement with the property owner. Title insurance provides protection for leaseholders against risks such as claims of ownership by third parties, defects in title, fraudulent representations, or other issues that could impair the tenant’s rights under the lease. This insurable interest is important because it secures the tenant’s investment and interests in the property for the duration of the lease, ensuring that they have a reliable means of protecting their rights.

Leasehold interests are commonly addressed in title insurance policies, which may include specific endorsements or provisions tailored to protect the rights of tenants. Other types of interests, such as brokerage interests, corporate shares, or personal property, do not generally qualify for specific title insurance coverage in the same manner, as they do not provide a legal claim to real property in the same way a leasehold does.