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Originally Posted by tommy steam
When buying a new home do you have to buy title insurance? I know someone who bought a patio home in TV and he said he did not buy the insurance. What are your thought? Thanks
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No requirement to buy owners policy, however, IMHO it is a mistake not to purchase Owner coverage. This is a one time life of ownership coverage. The insurance company will not only insure against defects in title, but will also pay for the legal costa of defending against bogus claims. There are some stange claims like the Indian tribes who have claimed land in Conn. and other states and issues of Federal or State ownership at shorelines. Transfer of lands by persons later to be determined to be incompetent at the time of transfer preceding your ownership could be an issue as could be fraud issues in an earlier transaction.