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/u/Dry-Engineer-7121
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Here is my question. What protection does title insurance provide? In other words, what risks am I taking if I don't get it? When I asked the question, I said specifically that I'm not overly concerned over defects of the land I want to buy but that if it protects me from inheriting unpaid taxes or fees, I would like to know that.
I've been trying to getting an answer to my question for so long. My realtor won't answer. Fine, maybe she doesn't know. She directed me to the title insurance company. I went back and forth with her a bit over email, but since she still wasn't answering, I suggested it might be easier if I call her, and here was the response she gave me.
I’m happy to have you call me but I wont answer any questions about the risk of no title insurance. You will need to discuss with an attorney. The risks to buy without title insurance are so big that I don’t have the time to tell you in one day
I'm kind of stunned because she's essentially saying, we'll provide you a service, but you're out of luck if you want to know what that service is.
I'm pretty sure she is wrong and that the explanation for what title insurance is does not require more than a day . If anyone with expertise can sum this up for me in a paragraph, I would greatly appreciate it.
Thank you in advance.
P.S.- I will be transferring this property over to a family member within a month or two. I know that insurance won't transfer, but that may be irrelevant as I'll probably know everything I need to know about the property at that point. As you can likely see, I am a novice, and just need a little guidance.
submitted by /u/Dry-Engineer-7121
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Basic question about title insurance protection
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I've been trying to getting an answer to my question for so long. My realtor won't answer. Fine, maybe she doesn't know. She directed me to the title insurance company. I went back and forth with her a bit over email, but since she still wasn't answering, I suggested it might be easier if I call her, and here was the response she gave me.
I’m happy to have you call me but I wont answer any questions about the risk of no title insurance. You will need to discuss with an attorney. The risks to buy without title insurance are so big that I don’t have the time to tell you in one day
I'm kind of stunned because she's essentially saying, we'll provide you a service, but you're out of luck if you want to know what that service is.
I'm pretty sure she is wrong and that the explanation for what title insurance is does not require more than a day . If anyone with expertise can sum this up for me in a paragraph, I would greatly appreciate it.
Thank you in advance.
P.S.- I will be transferring this property over to a family member within a month or two. I know that insurance won't transfer, but that may be irrelevant as I'll probably know everything I need to know about the property at that point. As you can likely see, I am a novice, and just need a little guidance.
submitted by /u/Dry-Engineer-7121
[link] [comments]
Basic question about title insurance protection
Continue reading...