Title Insurance may be used to protect the interest of

An optionee is a party who holds an option to purchase a property but does not yet have ownership. While they may have a vested interest in the property, title insurance is not typically used to protect their rights until the purchase is finalized. Instead, title insurance is relevant for those who have completed the transaction and hold the title.

A broker facilitates the transaction between buyers and sellers but does not have a direct ownership interest in the property. Title insurance does not extend to brokers, as they are not the ones at risk from title defects; their role is to assist in the transaction rather than to hold title.

Tenants lease property and have rights related to their lease agreements, but they do not own the title to the property. As such, title insurance does not apply to tenants since it is not designed to protect their interests, which are governed by lease terms rather than ownership rights.