It is probably a good idea to obtain title insurance. Title insurance protects the purchaser of a property to ensure that he or she receives marketable title. It also assures that there will be legal egress to a property so the purchaser will have access to the property. Title insurance provides you recourse in the case of an error in the title search. It does not provide any protection to the seller of the property.
If you purchase a home through a mortgage instutition, such as a bank, the lender will require title insurance be held on the property.
On your insurance policy, an examination of Schedule B-2 on the policy will reveal any exceptions under which the property title is not insured. If the city or county has a lein against the property, that should be revealed in Schedule B-2.
For representation when purchasing or selling a property, please give us a call at (727) 847-2288.