NLIC.org

Jonathan Said:

Do I need Title Insurance on a new build?

We Answered:

YES!!!! You need it. NO. NO
The land, the land's past history, can you buy it free and clear, or is someone selling you something they first sold some one else????? This is a big investment, protect it. Boundaries, survey, etc.

Brenda Said:

why do I need title insurance?

We Answered:

Most buyers take out a mortgage when they purchase a home. But, before a lender will issue a mortgage, there will need to be evidence that the buyers will receive good title to the property. Also, the lender will require that a title insurance policy be purchased, usually at the buyer's expense, guaranteeing the lender's interest in the property. Title insurance is paid for on a one-time-only basis. It is not transferable from one party to another.

Dolores Said:

Does the seller need to purchase title insurance in Michigan? If so, why?

We Answered:

Yes this is legit. You must and you should.

You don't want problems from prior ownerships to interfere with your rights to your property. And you don't want to pay the potentially ruinous cost of defending your property rights in court.

A title insurance policy is your best protection against potential title defects, which can remain hidden despite the most thorough search of public records and the most careful escrow or closing.

Call the title company you will be using and ask them if you need it of if the realtor is full of ****. They are the experts.