My New Blog

I am only going to own the property for a short time, so I don't need to worry about an owners's title insurance policy.

Most title defects are claimed within the first few years of ownership.  Second, you can be held liable in the future for a title defect that was present when you purchased the property but not discovered until atfter you sold it. 

An owner's title insurance policy protects forever.  When you pass title under a general warranty deed you are saying the property has a clear title.  If a title defect is claimed years later, you can be sued if the buyers proved the defect was present when you sold it-even if you did not know it existed at the same time you purchased it.  An owner's titleinsurance policy would protect you even after you sold the property.