Q: Hello I am buying a house in Massachusetts and not sure if I should file for Homestead, buy Title Insurance or do both.
The house is a short sale and I have to do something to protect challenges to the deed. I am not sure what the differences are between Title Insurance and Homestead in my state and not sure who to ask. The attorney I am dealing with for the closing is not helpful he just says I need both.
A: Sorry, I agree with the closing attorney, both. A homestead protects your equity in the house. Recording a homestead is so inexpensive it's silly not to do it. The recording fee is $35 and all the MA registries have have forms online if you want to prepare the homestead yourself. Title insurance protects you from defects in the title. You pay the premium once at the time of closing and it stays for as long as you own the home.
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