How important is buyers title insurance?

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Buyer's Title Insurance Buyer's Title Insurance, also known as an Owner's Policy or Fee Policy, protects the new owner of the property from the "history" of the property during the duration of their ownership, whether it be 1 year or 100 years.
Since title insurance is underwritten "at the table" by the agency, it is the least likely type of insurance to receive a claim.
The new owner is protected against previous mortgages, owners, judgments, etc. that are of public record prior to the purchase of the property.
The low one-time fee over the lifetime of ownership is well worth the investment for peace of mind, since real estate is usually the largest single investment a person makes in their lifetime. Plus, in most states, there is a reduced rate at the time of purchase for simultaneously issuing both the Owner's Policy and the Mortgage Policy.
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  • After owning my $273K house for less than 2 years, I received a sheriff sale for $417K because of the previous owners business that went bust. The judgment was filed 8 monthes before my closing, and they missed it. Even with the insurance, I could have lost my house had the bank pursued the full amount (our house is worth more than $273K).
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Is the buyer or seller responsible for title insurance?

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Who has rights to the title buyer or co-buyer?

It depends on whose name or names are on the title. A co-signer of a loan isn't necessarily an owner. Their name must be on the title to the property also. The person or perso

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When the Certificate of Title is signed over to the new owner for a motor vehicle. When the fully executed deed is delivered to the new owner for real property.

Does title insurance protect the buyer of property against subsequent claims for unpaid condo fees?

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