Lenders Title insurance covers and protects the lender( if applicable) and is almost always required. Owners title insurance covers you the buyer (owner) - it is typically recommended. I have seen situations, especially where closing reps did not do due diligence, ie removing prior owners etc. It is a good, and typically a recommended safety for you as the seller. If there are prior liens, not removed at the time you become the title holder, without the insurance - you become responsible. At TV and if you buy new it may not be(and I have no idea, never having bought) necessary - it may be covered somehow by the seller -but in any resale it is usually strongly recommended.
....good luck
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