Anyone taking out title insurance on their purchase

[kennyboi]

Just wondering how many out there has taken out a title insurance on their home purchase and what do you think about it?

Does this get paid every time you refinance your loan or change title tenant type (e.g. from joint tenant to tenants in commons)?

 

[Propertunity]

It is paid on purchase only.

 

[jaylo]

Stewart Title insurance was presented in my conveyancing package as an option for a 350$ one-off premium at purchase but I didn't go for it under my broker's recommendation.
Apparently that's in response to a court decision a few years back but is apparently unlikely to happen if conveyancer is doing his due diligence.

 

[Terry_w]

Stewart Title insurance was presented in my conveyancing package as an option for a 350$ one-off premium at purchase but I didn't go for it under my broker's recommendation.
Apparently that's in response to a court decision a few years back but is apparently unlikely to happen if conveyancer is doing his due diligence.

Wow! This is so wrong! Was it the mortgage broker giving your this legal advice? They would have been liable without coverage of their PI insurance if your were defrauded.

 

[nikkig]

We have taken out title insurance on our purchase. It covers you for the whole time you own the property. For $350 we figured it was better to have peace of mind. If you don't take it out and something crops up later on, you'd probably kick yourself for not taking it out at the start.