When you need it and you don't have it that's when panic sets in.

Very Necessary.

I look at it like auto, life & health insurance.  It's not really anything you get any benefit from until you need it, then it can be the most important thing.

Depending on who wants to know - it could likely be as important, if not more so, than any other type of insurance.  

Insurance is protection. A relatively small price to pay for what it would cost to remedy if we do not have it. 

Insuring that you really do own what is probably the biggest asset in your estate is very important.

And...if you borrow to buy real estate the lender will insist that you have title insurance to protect the lender as the real estate is collateral for the loan.

Great question.  There are at least two sides to the answers.  Some will say don’t leave home without it and some will say why bother.  Realistically, it is a inexpensive insurance policy against future problems.

Very important, I had a listing on an Island where the owner did not Purchase Title insurance when he purchased and he may lose half of the land due to something that was not found in the chain of title til recently.

You never know what the former owner was in to

Let me answer that question with an example:
My husband and I bought a 3/4 acre piece of vacant property next to our house. When we sold our home and wanted to sell the property too, a title search for the new buyers revealed a $10,000 unpaid lien from the previous owner.  If we hadn't had title insurance, we would have had to pay that lien to clear the property for sale.  A few hundred dollars for title insurance saved us $10,000 (and a lot of headaches) when we sold the property.

Kathleen Daniels, Probate & Trust Specialist offered some great advice. And, it can be expensiveto get "gap" coverage for the perion of time the land is not covered so it can be sold and mortgaged in the future.

Very important

In any typical real estate purchase transaction, title insurance is one of those necessary precautions that you should take to make sure your investment is as secure and safe as possible.

The importance of a home's title goes beyond just being an asset on paper or something for decoration. The true value starts with knowing:

• Who actually owns the property now

• Will they be able to sell their property without having lien claims against them?
  
  
• Does anyone else have legal rights over this house other than its owner?

These questions can only begin answering themselves through careful research into the land records-a process which includes getting copies from the county clerk's office. This may sound like a lot. But it doesn't even scratch the surface when considering all aspects.

Like any insurance, the worth is when you need it. 

Very

I tell buyers I wouldn't own property without buying title insurance and suggest they do the same.

What do you think?

Like all insurance, when you need it, it is golden. When not, its income leakage. Same with medical coverage too

Let's put it this way...

it is so important the lender requires the home buyer to purchase a lender's title insurance policy for the bank. That is how important tirle insurance is.

To most people, not at all important.  To those who end up needing it, it's a life saver.

It is very important Jordan Kuehn 

Best of luck with your studies. 

I believe everyone should have it.

Lets buyers have peace of mind about their investment.  I advise STRONGLY all buyers get it with the one exception of lease lots in our market.  Those people lease the land and it's a waste of money for them.

It's so important that a mortgage lender won't close a deal without it. If someone is paying cash I recommend they get it. If a buyer wants to know if they should have an owners policy, the answer is yes. After all, this is the biggest investment some people will make.