Why I Always Buy Title Insurance

To date, I have purchased title insurance for both houses we owned.   I am now considering buying title insurance on land that I will inherit from my parents.  In my state, the cost of title insurance was about $300 per $100,000 of coverage.

Here's why I buy title insurance:

1. Inexpensive.   At $300 per $100,000, the insurance is very cheap.  Legal costs to address a title issue can easily exceed $1000.
2. Peace of mind.  Knowing that I have titled insurance gives me worry free ownership.  If there is an ownership issue, it will be fixed.

My understanding is that title insurance can be purchased anytime there is a transfer of title, to ensure the title is free and clear.  So my plan is to buy title insurance for the inherited land.

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This is not financial or real estate advice. Please consult a professional advisor.

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