Although it is highly recommended, you don’t need title insurance for yourself -- and it is not required for you to close. Unless, of course, you are financing the property. There is a very high chance that the mortgage company you use will require you to have a title insurance policy to protect their interest. Without it, should a defect in title appear while you still have interest in the property, you may find yourself in a big fight - financially and legally. Risks come when defects such as the following appear: Fraud and/or forgery, Tax liens, Missing heirs, Judgments and liens, Conflicting wills, Public record errors or recording errors, Easements, Encroachment with neighbors, Clerical errors or omissions. With title insurance, you simply need to submit a claim as stated in your policy.