To agree to hold a person or party free of liability. The person issuing the indemnification guarantee accepts all obligations for any liabilities that may arise from the agreed subject. For example, a refinance may discover a problem with the title that should have been addressed by the purchasing title company. The lender or title company for the refinance may require a "hold harmless" or indemnification letter from the original title insurer before the refinance can be closed. For more information, see the "Title and title insurance " article in the "Real Estate In-Depth" section.
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