| > Obviously therefore I don't need the insurance: in the very unlikely case title might be challenged I can always just sue the policy of the (now deceased) people who sold the house to me. Title insurance, at least in Canada, also protects against future actions, and not just past ones: * If someone manages to do some shenanigans and convinces someone that they own your property, and gets a second mortgage/HELOC on it, and then not pay it back, which causes the mortgage/HELOC company to put a lien on it, title insurance protects against that. * If someone manages to sell your house to a person who then shows up at your front door on the "closing day", expecting to get inside, title insurance protects against that. The above can happen even though you own things properly, and got them properly from the previous owners. Occurrences in Canada: * https://www.cbc.ca/news/canada/toronto/prevent-title-insuran... * https://www.mannlawyers.com/resources/a-review-of-title-insu... |