Phil Scheinman, ABR, GRI, E-PRO
Broker * Sales Agent * Realtor
2831 St. Rose ParkwaySte. 100
Las Vegas, NV 89074
In addition to normal insurance, I always recommend to the people whose property I manage, a $2,000,000 umbrella policy. This provides a greater protection than a normal landlord policy. As I always say, most lawyers sure for millions, not thousands.
2012 Vice Chair GLVAR Property Management Committee
Southern Nevada Property Management
8871 West Flamingo Road Suite 202
Las Vegas, NV 89147
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You can't really project a tenant is going to sue you. It would concern me that you weren't more concerned about insurance to cover the property replacement.
I would find a lawyer that you can run that question by. Cost of title insurance differs between companies and coverage. I recommend expanded coverage. Title is split between buyer and seller...you can always ask the seller to pay your title insurance as part of closing costs. Call a local title company and they can give you a fee scale.