Two words: Title Insurance - one time purchase.
Two words: Title Insurance - one time purchase.
I do not know the answer, but in general when you purchase a home and the title is finalized by a title company do you not have “insurance”?
I hear these ads often but I had never heard of such a theft.
Curious if anyone has a more definitive answer?
“Two words: Title Insurance - one time purchase.”
Title insurance insures there are no unknown liens on the property and will cover them if there are. Anything that happens after the closing is not covered by title insurance.
“Unlike other types of insurance that help cover future mishaps, title insurance is designed to protect the policyholder from any past title discrepancies from the seller or previous owner that might be uncovered during or after the purchasing process.”
https://www.zillow.com/home-buying-guide/what-is-title-insurance/
Title Insurance is a guarantee as to the title as stipulated at the closing time. Very important to get a land survey to document with the Insurance. Exclusions are outside of the scope. Be aware. Any new attachments to the title are not insured. IE: if you let your neighbor encroach, it’s not covered. It would be at your expense to defend anything “new” after closing or policy effective date. (This is not legal advice)