Title Insurance

Yes, without a doubt, I recommend title insurance. It offers great protection against claims made against your title/ownership. Things such as someone claiming an ownership interest, the IRS claiming they had a lien against a prior owner that was never paid, easement rights, access rights, restrictions against the use of your land and there's so much more. If you are obtaining a loan to purchase the property, often times the lender will also want a policy of tite insurance to insure their title/position, as a lienholder on the property. In California, where I am, sellers traditionally purchase the title insurance for the buyer and the buyer purchases the title insurance policy for the lender. The lender's policy, is considerably less expensive than the owner's policy. So, depending on where the property is and what the common practice is, in that state, your seller may be paying the greater part of the expense. I would definitely discuss this in greater detail with the lawyer, before making your final decision. The best part is, it's not like other types of insurance, where you have to renew annually. Title Insurance is paid for once, at the closing and will remain in effect for the entire duration of your ownership. Good luck!

This is something your lawyer or realtor should have explained. It protects you from claims on the title of your home. That means you will own it free and clear and no long lost relatives of the previous owner can claim ownership. Most Title searches are good, and if there was only one previous owner before it may be alright, but you just never know. Please discuss this thoroughly with your lawyer, that is what you are paying for.