On paying for a total lossLoss of all the insured property. Also a loss involving the maximum amount for which a policy is liable. More of property, an insurance company takes titleThe right to ownership of property. The owner of real property having just possession of his property. More to what remains of or what is recovered of the property. This is a right of salvageOn paying for a total loss of property, an insurance company takes title to what remains of or what is recovered of the property. This is a right of s... More.