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If you are financing all or part of your condo purchase, your mortgage lender will require a lender's title insurance policy as a condition of Title insurance covers a highly unlikely but possibly major risk. It's ultimately your decision but know that owners title is optional.

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Gettin' Beachy Podcast #8 | Do I really need Title Insurance? Why Every Homebuyer Needs Owner's Title Insurance

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Normally, if you are buying for cash and you have a thorough title search (deed history), you do not need to buy an owner's title policy for the property. What is Title Insurance in NYC and Do You Need It? Do I need an attorney for a title insurance policy?

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While lender's title insurance is required, owner's title insurance is optional. However, acquiring a policy is recommended to protect against