Quote:
Originally Posted by newgirl
You don’t need to buy a policy but the seller does need to buy one .
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I think you may be confusing a title insurance policy with the title company's fees to search the title and to prepare the deed to ensure that a free and clear title is conveyed to the buyer at the closing. An owners title insurance policy will protect the buyer from future claims made against the title. The policy is purchased at closing and protects the buyer for as long as he/she owns the property. But, the owners title insurance policy is entirely optional. In The Villages, the buyer usually pays for the title insurance, but, again, it is optional. Some buyers decline to buy the insurance, especially when they are buying a new house.