Does Michigan Require Owner's Title Insurance?

Although state law doesn’t require buyers to purchase owner’s title insurance, it may be required by the lender if a loan is taken out on the real estate. Owner’s title insurance is a one-time cost that protects the homebuyer against financial losses related to issues with the title. It can give the owner peace of mind by knowing their investment in title insurance can protect them from past problems until the title is completely transferred. 

Why is Owner’s Title Insurance Important?

Without owner’s title insurance, the homeowner will be responsible for covering unexpected costs that come up in the title. It can ensure that full ownership is rightfully transferred and the homeowner is protected if someone has a claim against the home from before the owner purchased it. If someone claims that taxes weren’t paid or home improvement services weren’t paid for before the ownership of the title was transferred, owner’s title insurance can protect the owner’s investment and save them money.

Owner’s Title Insurance With Embassy Title Agency

If you are looking for owner’s title insurance in Dearborn, MI, Livonia, MI, Plymouth, MI, or the surrounding areas, Embassy Title Agency can help you. Our team has over 15 years of success in the Title Agency business and over 100 years of combined experience handling real estate, mortgage, bank, credit unions, and commercial transactions throughout the Metro Detroit area. We are involved in many outside charities and groups. Our friendly staff is well equipped to help you with all your closing and title needs. Contact us online or call us at (734) 293-2000 to learn more about our services and our team.

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