title insurance: Why is Title Insurance Necessary for your Home Purchase? - 08/29/10 10:11 AM
Why is Title Insurance Necessary for your Home Purchase?
Home buyers often ask what the significance is of title insurance in the buying process.  You have so many expenses that are coming out of your pocket right now.  Is this one that is particularly worthwhile?
Unlike home owners' insurance which is to cover any problems that may arise in the future - title insurance is there to cover something that may have already occurred.
According to the American Land Title Association (ALTA), about 25 percent of all residential real estate transactions have issues with the title.  Most are resolved prior to … (8 comments)

title insurance: Why Is Title Insurance Necessary for a Home Purchase? - Massachusetts Blog - 08/16/09 08:45 AM
In real estate there is a concept called "chain of title."  X sells to Y, Y to Z, and so on. 
By the time you arrive at your closing, a title examiner will have performed a title search which will include all documents involved in the chain-of-title.  This is also done to uncover any tax liens, judgments, mistakes in the record, undisclosed heirs or unknown easements. 
When the search has been completed, the examiner will write a letter of opinion expressing that the seller does indeed have good title.  This will satisfy the bank and will get you to your … (15 comments)