Do I need to buy home title insurance after I pay off my mortgage.
If you have an owners policy it stays in effect as long as you own the home. The lenders policy does expire. Keep in mind title issues that require insurance involvement are very rare.
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On our paid for rental property, we keep a HELOC open so that the title remains encumbered. The cost is low and you don’t have to use any equity…..
Unfortunately in our country having wealth makes you a target……
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read your policy carefully. Some title policies cover you and the lender and don’t expire
I don’t know of any title insurance policies that expire. It’s no longer valid once you sell the house, but even that I’m not totally sure of. The lender’s policy is if no concern bc it only protects the lender, not you. What you do want to be sure about is your policy and that it is of a broad form nature, which can help protect you from title theft. Freezing your credit will go a long way to preventing title theft. You can also sign up with the clerks office that has the title and request notifications if anything is filed against it. While title problems are rare, when they occur they can be devastating. I’ve seen a few. Even if I inherited a house, I’d buy a title insurance policy for it.
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