An owner's policy of title insurance would most likely be included in which type of transaction?

An owner's policy of title insurance is most commonly included in a purchase transaction. This policy protects the buyer's ownership interest in the property from issues that may arise after the purchase, such as liens, encumbrances, or defects in the title that were not discovered during the title search. When someone buys a property, they typically want assurance that their legal title is clear, which is why an owner's policy is essential in this scenario.

In a refinance transaction, while a lender may require a lender's title policy, the owner's title insurance is generally not a focus because the ownership has already been established and protected at the time of the initial purchase. The primary concern in refinancing typically revolves around the lender's interests, not the owner’s title insurance. Therefore, the connection of an owner’s policy primarily with purchase transactions sets it apart from refinance scenarios.