It was just suggested to me that I obtain title insurance.
“The assignee may want to consider purchasing title insurance to protect against any claims that may arise after the assignment is executed.”
Has anyone ever purchased or used title insurance?
Yes, it’s called no warranty. In assignments it’s selling ‘as is’.
We have purchased title insurance for properties as the seller and as the buyer. Title companies typically do not insure mineral ownership, just surface.
This is good to know.
If you are a seller of o&g mineral interests, it might be a good idea to provide a special warranty rather than a general warranty.
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