As a non-benefiting third party, I highly recommend title insurance. This is a one-time charge that covers you the entire time you own the property.
Public records, which is what the title company searches, are only as accurate as the data that is in there: It isn’t perfect. My business partner and I bought title insurance, along with 99% of every other buyer we’ve helped.
In the off chance there is an unpaid contractor or estranged family member, etc., who may challenge you and claim ownership of your home, you want to be defended.
Imagine that happening three years after making payments, and now they claim they own 33% of your home and those payments you’ve made.
For that reason, I always recommend title insurance – despite any findings the title company presents.
– Eric Fafoglia, The Alliance DC