Yes, title insurance is highly recommended for both buyers and sellers in Wyoming. It protects both parties from financial losses arising from title defects, such as:
- Unrecorded liens: Hidden debts or legal obligations attached to the property.
- Forged documents: Fraudulent claims of ownership.
- Undisclosed heirs: Unforeseen claims to the property.
While the buyer typically pays for title insurance, the seller can choose to pay or negotiate the cost with the buyer.
Remember, seeking professional guidance from a real estate attorney and title company is crucial for a successful and secure land sale with a mortgage in Wyoming.