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Updated 16 days ago on . Most recent reply

Do I get a clear and insurable title?
When buying property at auction, many buyers wonder if they will receive a clear and insurable title. It’s important to understand that all properties sold at auction are typically offered “As Is” and “Where Is,” meaning the seller does not guarantee or warranty the condition or title of the property in any way. The buyer accepts the property with all its current conditions and any encumbrances or defects that may exist.
The buyer is responsible for obtaining title insurance if they want protection against any title defects. Title insurance protects you if there are legal issues with ownership or undisclosed liens discovered after closing. The title company conducts a search on the property’s title to identify any known issues, such as unpaid taxes, liens, or claims.
In Texas, the term “indefeasible title” is often used by attorneys to indicate ownership that cannot easily be challenged. In other states, the term “marketable title” is more common. Both refer to a title that is free from significant legal questions and can be transferred to a new owner.
It’s essential to work with the title company and your attorney to review the title search results and understand what you are buying. While the seller offers the property “As Is,” you can choose to purchase title insurance or additional title services for peace of mind.
Ultimately, obtaining a clear and insurable title depends on the title search and your willingness to purchase insurance to protect your ownership rights.
