Asked by: Nassera Baldeir
asked in category: General Last Updated: 13th January, 2020

Do I need title insurance if I have a warranty deed?

A warranty deed is no substitute for title insurance.
Even if you already have a warranty deed, it is still recommended that you get title insurance. Then you can't claim against the warranty deed, but you can claim against your title insurance.

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In this way, can you get title insurance with a special warranty deed?

The best way to protect yourself as a buyer is to buy title insurance when you purchase the property. A special warranty deed provides the buyer with some guarantees about title, but it does not offer complete protection. However, these types of deeds can be acceptable if other protections are put in place.

Beside above, does a warranty deed mean there is no mortgage? A special warranty deed is like a warranty deed, but it only covers the time period when the grantor owned the property. It makes no promises about what went on with the property before he bought it. This means that, although the grantor has free claim to the title, he doesn't guarantee that you will.

In this regard, does a warranty deed require a title search?

It's important to note that a warranty deed does not actually prove the grantor has ownership (a title search is the best way to prove that), but it is a promise by the grantor that they are transferring ownership and if it turns out they don't actually own the property, the grantor will be responsible for compensating

Do you need owner's title insurance on new construction?

Construction of a new home has the potential exposure to unique title pitfalls that may impact the lender and owner. Since your lender wants to be sure the property has clear title, they will require that a Loan Policy of Title Insurance be purchased. But a Loan Policy only protects the lender.

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