Title Insurance: New Product For Old Issues

An analysis of why there are no takers for title insurance and what needs to be done.

Real estate is among the priciest investments around. More so for the common man who has to live with the burden of monthly EMIs. Yet, it is an art to discover the real owner of any property. Government and revenue records, which are easily accessible to the public, are not properly maintained. Individual plot owners don't even think it necessary to update these records; as such omissions do not attract stringent penalties. The entire process of finding out whether a person's ownership rights are free of any defects depends largely on the co-operation of the purported seller. And the seller may have a vested interest in not making a clean breast of things.