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Purchase of a home in my grandmothers estate.

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sandy3 Joined: 23 Jun 2010 Posts: 1 1.00 Dollars($)	Posted: Wed Jun 23, 2010 5:05 pm    Post subject: Purchase of a home in my grandmothers estate. Like 0 Dislike 0 My grandmother passed away and left her house to my aunt and myself. My aunt does not want the house, so my husband and I are buying it from the trust. We are paying cash so there will be no mortgage(or closing) There is a warranty deed on the property. Do we still need to have title insurance for this property? We are trying to keep costs low and possibly do this without a title company. Maybe that is not possible, we just are not sure how to proceed.
adonis Joined: 22 Oct 2005 Posts: 10250 Location: ALASKA 1043.57 Dollars($)	Posted: Wed Jun 23, 2010 9:18 pm    Post subject: Like 0 Dislike 0 Welcome sandy, When you're paying cash to purchase a property, there is no regulatory law that asks you to go for Title Insurance. However, an Owner's Policy protects you against the acts of previous owners, mortgages, judgments, etc. filed in public record. Thus, you should go for a title insurance for your own safety. _________________ Procrastination is the enemy of your financial success

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