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Buying a home is a major milestone—one that comes with a mix of excitement and stress. Among the stack of paperwork and legal terms, you might come across “title insurance” and wonder: Do I really need this? If you’re navigating a home purchase in the Long Prairie area, this blog will walk you through what title insurance is, why it matters, and how expert real estate transaction services in Long Prairie, MN—like those from All Star Title and Abstract Company, LLC—help make the whole process easier and safer.
Title insurance is a policy that protects homebuyers and lenders against potential issues tied to the ownership history of a property. When you buy a home, you’re not just buying the building and land—you’re also buying its legal history. If there’s an old lien, a claim from an unknown heir, or even a filing error from years ago, it could affect your right to own the property.
Title insurance covers you in these situations, often long after the deal is done. It’s a one-time purchase at closing, and it offers long-term protection.
Even in a close-knit community like Long Prairie, MN, title issues can—and do—happen. Properties might have changed hands multiple times, and recordkeeping errors are more common than you’d think. Here are just a few problems title insurance protects against:
