Re: Buying on land contract/ What about title ins? - Posted by Keith (AL)
Posted by Keith (AL) on October 26, 2000 at 16:10:13:
I’m a little confused.
On land contracts I don’t believe that title is transfered (at least not in AL). So there is no title insurance to obtain. You should, however, have a title search performed before signing the l/c. By performing the title search you have a good idea if the Sellers can convey a clear title when you pay off the l/c. When you pay off the l/c (there’s no refinance because you haven’t financed with a mortgage company to begin with) and actually receive the title, then you should obtain title insurance.
Am I totally missing the point?