Yes, title insurance is highly recommended for both buyers and sellers in Oregon. It protects against financial losses due to title defects, such as:
- Forged documents: Protecting against fraudulent claims of ownership.
- Undisclosed heirs: Ensuring there are no surprise claims to the property.
- Unrecorded liens: Protecting against hidden debts or legal obligations attached to the land.
While the buyer typically pays for title insurance, the seller can choose to pay or negotiate the cost with the buyer.
For specific advice and costs, it’s best to consult with a qualified real estate attorney and title insurance agent in Oregon. They can assess your situation and provide personalized guidance.