Title Insurance:  Is it really worth it?

 

While we always recommend getting a property’s title checked with a First American Title Insurance lawyer prior to purchasing any piece of real estate, whether to pursue a policy often depends on the individual circumstance.  Essentially it is vital that the property is able to obtain a title insurance policy, if so desired, but rather or not to go forth with the insurance is another issue. 

   For example, when purchasing within a development, if the developer already has something called an “Umbrella Policy”, it is often redundant to go forth with the purchase of an individual policy.  In the case that someone were to file a claim against any individual property covered under the umbrella policy, the title insurance company would already be going to court to defend the claim.

 

When buying raw land, outside of a development, we recommend clients always go forth with a policy

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Sam Stewart     Owner/Broker     samstewart@remax.net

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