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Buying and Selling Homes

Ehnanced? Owner's title insurance?

12 years ago

If seller is granting only a special warranty deed, does a new enhanced owner's title insurance policy purchased at time of sale protect buyer from claims that originally arose before seller's ownership?

(looking at foreclosure -- first experience -- and bank wants to give special warranty deed. Old house surrounded by vacant land with back taxes due which were/are owned by same person as the one foreclosed upon. Worrisome.)

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Comments (2)

brickeyee
12 years ago
Just make sure you get the title insurance policy, with inflation clauses for increase sin the properties value in the future.

The bank is NOT going to issue a general warranty deed.
They do not want to be in the line for things before their ownership.

The title insurance company will perform a search before they issue a policy to try and locate ANY defects in the chain.
sylviatexas1
12 years ago
For an extra fee (well worth it), you can get an endorsement or rider added to your title insurance policy to protect you from claims arising before the seller took title.
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