I am often asked why one should purchase title insurance. The short answer is so that an owner can protect him or herself from any unknown encumbrances or defects in the title. Then I get the follow up question, which is “well shouldn’t a title search be sufficient?” Unfortunately, as we are all human, mistakes are made, even in the title search, which is why an Owner’s Policy of title insurance is so important. Institutional lenders insist on a Loan Policy to protect the mortgage, and owners should be no less careful. Click below to see the 10 most common title problems.
Bridget M. Friedman, Esq.