[问题] Title insurance

[Leo]

Could anyone give tell me what exactly Title Insurance is? Should I buy the insurance for a new construction? If I don't buy it, how big the risk would be? Thanks a lot!

 

[oread]

My lawyer told me: "Get it", so I did.

 

[小傻]

最初由 Leo 发布
Could anyone give tell me what exactly Title Insurance is? Should I buy the insurance for a new construction? If I don't buy it, how big the risk would be? Thanks a lot!

For new construction, I think you only need to pay "title search"..that's a required doc in laywer's list...

What's that for? To prevent -- your builder to di ya your house and you don't know...after you move in, then bank says it is their house not yours

 

[Leo]

最初由 渐渐 发布
My lawyer told me: "Get it", so I did.

渐渐:

Thanks! Was that for new construction or re-sell?

 

[Timothy's]

http://www.aols.org/boundariesandland/titleinsurance.asp

 

[keen_observer]

title insurance is to cover some unforeseen circumstance that prevent from registering the property in your own title. In rare case, title search will not uncover all problems, and title insurance is used to cover such circunstance. Most lawyer will include the title insurance in their fee.

 

[oread]

It was for a new home.

最初由 Leo 发布


渐渐:

Thanks! Was that for new construction or re-sell?