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Ivan Said:

Should I get owner's title insurance?

We Answered:

Owners title insurance protects you in case of a problem with the title. that could come up next week or come up years from now. I have seen times when someone owned a home for twenty years and found out when they sold it that the title had never been cleared when they bought it! The old title policy had to step up and clear up the problem. It would protect you if an unknown heir to this estate come up and claims part of the property. And by protecting you I mean they would have to pay the legal fees.

If you don't have a title search you would still be able to hire an attorney and fight the case yourself.

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I don't sell them and it makes no difference to my pocket book if people buy them or not.

Marshall Said:

Is Title Insurance required for a private sale of a home?

We Answered:

Title insurance is never required. I always get it, I have had to use it and it is dirt cheap.

However, this will now come up in any title search, which lenders will require.

You need to get it taken care of. It is just a permit, not a big deal. Whatever was built only has to pass an inspection by the code when it was issued.

Marion Said:

Title Insurance?

We Answered:

You can contact the title company - but I would just ask your lender for a copy. Usually the title company will send you your title after a purchase - but it usually takes a month or two. If it just a copy you are asking for, there should not be a fee. If you need to purchase it there is a cost up front and each title company has their own fees. But no, you do not need an attorney.

Dustin Said:

Does anyone know of a case where they would not take title insurance in a closing?

We Answered:

I only had that happen when there were ex husbands and wives running around with unfinished business. The title company only likes divorces which are clear and final and the ex can not spring a surprise.
I tried to sell my grandpa's house without going thru Probate. It was legal for me to sell it. I inherited it. But they wouldn't issue title insurance without the Probate Court letter. The buyer backed out even tho he said that he understood what i was doing and the price was $50,000. After Probate, i sold it for $79,900 with the title insurance. He should have gone thru with the sale without insurance.
Did someone die on your friend's sale

Tony Said:

Purchased title insurance for our property but 2yrs later turns out that property descripton is incomplete?

We Answered:

First go to the title company main office; in person if possible. They keep all files for 5 years. They have your complete file. They will fix the mistake.

When a parcel is split for a sale, some cities make you pay for a survey so this mistake can not happen. The title company relies on the survey.

It sounds like your problem can be fixed in 3 minutes with a Correction Deed and an addendum to your title policy.