If somone is buying land from a friend for cash can title insurance be skipped?

Answer

Title insurance is optional and only required by lenders to protect their interests.

Title Geek Answer

At the very least, have a property report/Report on Title done so you know that the property is free and clear of any possible problems. That includes possible problems from prior owners over the last 20-60 years.

It is worth the money if you don't want to pay for an Owner's Policy to make sure you know any known issues on the property. Typically a Report on Title will run a couple hundred dollars.

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First answer by ID1173562310. Last edit by TitleGeek. Contributor trust: 91 [recommend contributor]. Question popularity: 91 [recommend question]

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