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There are no laws requiring a person to take out title insurance on their property.
However, it's wise to, at the very least, have a Report on Title (Search only) done on the property before you purchase. This is not title insurance, but a compliation of all searches for existing deeds, mortgages, liens, status of municipal liens, easements, restrictions, etc.
After obtaining the Report on Title, you can decide if you are comfortable with the property status to proceed with or without getting an Owner's Policy to protect you against the history of the property as to all of the above.
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∙ 11y ago
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Do I need title insurance if I buy a home with cash and no mortgage?
Yes. You still need to protect your investment.
How do I get title insurance to make sure the car is registered properly?
You can get that at any insurance company or any title and tag service.. this really isnt something you need to get or reccommended to buy.. waste of cash
Can you buy a car without insurance?
Sure, if you just want to buy it but not drive it. Oh yes and if you have enough cash to pay for it without financing any of the purchase price. This is because most states require you to have insurance to drive or get a tag and if you finance the purchase you will have to purchase insurance as part of your finance contract.
Do I need to purchase my own insurance when using cash for gold mail-in plans?
I had used the Cash For Gold mail-in plan and it worked out great. I did not need to purchase my own insurance because they should give you a tracking number and on-line resources to make you feel more secure about the process. You may end up paying more for the insurance than you get for your gold.
Do you need to purchase owners title insurance?
It is normally a condition of most real estate sales contracts, or the lender providing the funds.
Do you had to have a title to be able to by title insurance?
No, you need to own a house.
Do you need title insurance if you are paying cash for a fix upper home?
Yes. Title insurance protects your title to the property regardless of the cost or whether you paid cash. Banks insist on a title examination for mortgaged property in order to protect their investment. A person who pays cash should also obtain a policy in order to protect their investment. Title defects are usually disclosed when you sell the property and the buyer's attorney arranges to have the title examined in order to protect their client's investment and their own liability. If the title exam discloses any defects in your title you will be responsible for the costs of having any problems corrected that can be costly. Also noteworthy is that people who purchase distressed properties on the cheap often do not have a thorough title examination performed in order to save money. Those properties are more prone to defects in the chain of title.
Where can one learn about title insurance?
You can learn about Title Insurance through your bank, if you are taking a loan out for a mortgage on your house, then you will need to make sure you have Title Insurance. You can also learn about whether you need it or want it through Title Insurance agencies that offer information about this specifically.
What do I need to know before I pawn my truck title for cash?
what if i dont have the title
How do you transfer a car title from Mexico to US?
We own a vacation home in Mexico but are U.S. citizens. We bought a car in Mexico to drive but the insurance is expensive. How do we go about transfering the title to the U.S. so we can purchase insurance from a U.S. company?
Do I need to purchase any special Insurance before sending my son to summer football camp?
No, you do not need to purchase insurance. Football is a common sport, and you do not need insurance for it. As long as you have medical insurance, you will be alright.
Do you need to have insurance on a car when transferring the title?
No
