Which document typically includes an assurance against defects in the title?

The title insurance policy is the document that typically includes an assurance against defects in the title. This type of insurance is specifically designed to protect property owners and lenders from potential losses due to defects or issues related to the property's title. Such defects may include liens, claims, or ownership disputes that could arise after the purchase of the property.

When a buyer obtains title insurance, they receive a guarantee that the title to the property is clear, meaning there are no undisclosed issues that would affect their ownership rights. If any defects are discovered after the purchase, the title insurance policy will provide financial protection, covering legal fees and losses incurred as a result of those issues.

In contrast, a mortgage agreement primarily focuses on the loan to finance the property, a purchase agreement outlines the terms of the property sale but doesn't cover title defects, and a lease contract pertains to rental terms without addressing ownership issues or title assurance. Therefore, the specific focus of the title insurance policy on safeguarding against title defects is what makes it the correct answer in this context.