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Old 09-04-2021, 09:07 AM
retiredguy123 retiredguy123 is online now
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Quote:
Originally Posted by ellenwelsh View Post
Many, many years (more than 40) in the lending and closing business. I bought my house here for cash and didn’t buy title insurance. Felt it wasn’t really necessary since there has been nothing here for eons except cantaloupes and watermelons. I have not ever known of an instance where title insurance is needed. Prior ( and in this case, none ) transactions can be corrected. I used the money that would have gone to it to have the inside painted, etc.
Probably not needed for a new house. But, I once bought a pre-owned house where the title search revealed that a previous owner, years earlier, had sold the house, and the ex-wife of a the jointly owned house had been the only signer on the deed. The lawyer had to find the ex-husband, who was out-of-state, and get his signature before the house could be sold again.