Lack of title insurance can wreak havoc for buyers

As a matter of common practice, most buyers of real property, whether the properties are vacant, residential, or commercial, are required by a lender to obtain title insurance or are simply wise enough to seek it on their own. Further, upon obtaining a title-insurance commitment from a title company, most buyers also are savvy enough either to thoroughly investigate the title requirements and exceptions listed in the commitment or to seek legal counsel to perform such a review.

Unfortunately, experience has demonstrated that sometimes, buyers of real property, due to ignorance, misplaced trust, overconfidence, or…