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Originally Posted by GOJODO
I think everyone is jumping over the details that may influence your decision. First, consider what the title insurance policy covers. Here is a good article from the American Land Title Association describing the products http://www.alta.org/about/TitleInsuranceOverview.pdf The second issue is for you to look closely at your deed to confirm that the seller is warranting the title and will defend you should that warrant not be true. Also, you will want to be certain the seller is economically sound and will be around when you need them in the future. If your satisfied as to these points you may not need the insurance. Remember the most typical benefit from title insurance is they pay the legal bills to establish your title, this is far more the benefit than people actually loosing title. If you are buying your property from the Villages, not a re-sale, and you clearly within the Villages planned subdivision , you may not need it. It really depends on your tolerance for risk. Good Luck. |
I believe that the deed from The Villages is a Warranty Deed not a Special Warranty Deed. If so they are only conveying the title that they were deeded when they acquired the property. If I am correct any previous defects in title are still in existence.
Would you pay $1000 to insure your home against fire forever.
About $1000+- will insure that you have clear title (or defend attacks) for the entirety of your ownership