Is it true that I should purchase Title Insurance when I buy a home?
Yes, a home is probably the largest investment you will make in your life. We buy insurance for our cars, appliances, health and more. Title insurance is a one-time fee that protects your property rights, as long as you own your home.
If you are buying a home, there are many hidden issues that may pop up only after you purchase your home. Getting an Owners Title Insurance Policy is the best way to protect yourself from unforeseen title discrepancies.
Examples of Title problems are: Outstanding undischarged mortgages, liens from former owners' unpaid taxes, pending legal actions against the property, and also unknown heirs of previous owners.
Your lender requires you to buy a policy to protect them, you should also protect yourself.