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The Need for Title Insurance in Chile

Title insurance is traditionally a construct of the legal faults and risks associated with buying real estate in the United States (Wiki article on Title Insurance). The real estate laws in Chile do not suffer from most of those basic legal defects of land registries as found in the American legal system that would make title insurance useful in Chile. In fact, the legal safeguards built into buying, selling, and owning property in Chile are such that there is almost no circumstances under which a title insurance…