The importance of title insurance for foreclosed properties
This article was posted by a member of the Title Insurance Law Group on Linked In.
If you are considering the purchase of a foreclosed property, you may want to read the above article.
I hope these buyers purchased title insurance!
This article is a case study why title insurance is more important than ever to protect purchasers. If their claim of ownership fails - without title insurance - the buyers may lose the property and risk the loss of their entire investment of $310,000.00. Adding legal fees would likely increase their costs by thousands of dollars. All matters which would likely be covered by an owner’s policy of title insurance.
With the current foreclosure morass, it is more important now than ever to obtain title insurance to protect your investment.
