Q: Is it mandatory in the State of Michigan that the seller have Title Insurance included in the closing costs?
I had to buy title insurance at the time of purchase. Why had this additional cost for the seller at closing?
A: Title insurance is not a legal requirement, like liability insurance for the operator of an automobile. It is customarily charged to the seller because it is the seller that may be providing to the buyer a warranty of title.
A: Are you the buyer or the seller - can't tell from your question, however, generally, seller's of real estate usually pay for the owner's policy that is issued to the buyer. This can be negotiated in the purchase agreement and so there are always exceptions. Buyer can buy their own owner's policy. See more at www.provenresource.com
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
