What is a title search and do I need title insurance for land?

A title search reviews the recorded history of a property to find who owns it and what burdens it: liens, easements, deed restrictions, leases and unpaid taxes. In Texas, the title company issues a title commitment listing problems and exceptions before closing. Title insurance then protects against financial loss from covered title defects, such as forgery, missing heirs or undisclosed liens. Lenders require a loan policy; an owner's policy protects the buyer and is strongly advisable on cash land purchases too. The Texas Department of Insurance sets title premiums, so they are the same at every title company, though escrow and closing fees vary. Buyer and seller negotiate who pays.

Sources

• Title Insurance FAQTexas Department of Insurance
• Key Laws Texas Landowners Need to Know: Owning Your Piece of TexasTexas A&M AgriLife Extension