Title policy purchased after?auction


#1

I’m unclear on the nature of the protection offered by a title policy purchased by a 3rd party buyer after an auction purchase. Are there any scenarios in which a sale could be later challenged by a prior owner (or any other party) where a 3rd party buyer would not be protected by such a policy? Can such a policy be used to prevent a rescission and keep a property (rather than only being compensated for such a rescission)?


#2

In all the decades I’ve been in business I’ve never known a 3rd Party buyer obtain title ins. except when they wanted to take out a loan. It would be interesting to know if, under the circumstances you describe, if you can really get title ins. Let us know.