That's because people do not know what a title company does and responsible for, and getting title insurance as protection.
Defects are things such as another person claiming an ownership interest, improperly recorded documents, fraud, forgery, liens, encroachments, easements and other items that are specified in the actual policy.
Without a title policy, you may not have a free and clear piece of property. Everything is hunky-dory until they want to sell and a mess on their hands or can not even sell it.
People get so cheap over a few hundred dollars in the scheme of things. Ridiculous. |
