Owner's Title Insurance- A Must?

Title insurance companies ensure that sellers have clear title to
the property they are selling. The title insurance company's agent performs
a thorough search of the public records and certifies that the proper
parties signed the paper work, paid the taxes and discharged all liens each
time the house changed hands. Why then, does a buyer need title insurance
if these searches are so meticulous?
Public records can be incorrect if a mistake was made when the legal
document was recorded. When you buy owner's title insurance, you are
protected against forgeries, misrepresentation and mistakes made at any
point during the chain of ownership. Someone may have forged a deed,
divorce papers or a death certificate. For a one-time premium, title
insurance provides protection against title claims even long after you sell
your home. Legal expenses and other costs are paid by the company to defend
your title. In Vermont, many title issues arise due to permit problems. One type
of owner policy insures against loss arising from failure to have certain
kinds of permits. Storm water issues are also making headlines and title problems

could arise due to the complicated permitting requirements.

Title insurance is like emergency oxygen on an airliner. You may
never need it, but if you do, you will be really glad that you have it!