That's not true. A former spouse of the owner of the tract that was sold could show up and claim that her signature was forged on a deed, as an example. There could have been a tax lien that was missed.
That's for sure.
Irrelevant, it protects that the title is clear.
Indeed; wasn't intending as such; and perhaps shouldn't've mixed in as examples...some of the things the abstract/title search can uncover, not that all of those are necessarily remedied by title insurance. But a transaction that tries to slide by is fraught with danger and assumptions about state of title simply based on date or recent history are naive at best.
You may be able to get away w/o the EPA Phase I survey, but even on the example in the little OK town that I'd've been certain had only been farm ground before had had use before that even the locals didn't remember having been there.
And could build a Peyton Place series around the somewhat colorful history part of the sequence uncovered... :)
Any tract will have a past behind it by now in North America, anyways.
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