The question I have relates to the answer below.

Question:

While Mike and Molly have done nothing wrong here, there's a chance that the sale to them was improper. What role to do you think title insurance might play for Mike and Molly?

The answer that was already provided by Course Hero but did not answer my question that I have above.

Mike and Molly Newcomer bought a farm complete with house and barn five years ago from 3 siblings that had inherited it from their parents upon their death ten years prior. One day there was a knock at the Newcomer's door a man appeared who claimed that he owned the farm and that they were trespassing. He stated his name was Trip Latecomer and that he had inherited the farm from his parents along with his 3 other siblings and had been traveling the world these past ten years. Who is the rightful owner of the property? What documentation would be needed to establish the correct ownership? Will the Newcomers lose the property why or why not?

Answer and explanations

• The rightful owner of the property: The rightful owner of the property is Mike and Molly Newcomer as they bought the house from 3 sibilings in a legally binding contract for sale of property. Based on the original documentations and claims from the seller, the three siblings had joint ownership of the property and there wasn't any mention of a fourth. All of them willingly sold the property in a legally binding contract with the newcomers, Thus transferring the ownership to them.
• Ownership Documentation: The document that will be needed to establish the correct ownership of the house will be The title or deed to the piece of property, whether it be land or vehicle, is the most basic form of proof of ownership. Deeds should be recorded with the county where the property is located.
• Will the Newcomers lose the property why or why not? If the Newcomers bought the house in a legally binding contract for the purchase of the property, They will not lose the property as they own it now. The reason for that is, A legally binding contract for the sale of the property needs the Title of the will of the property to be included to ensure that the property is owned by the sellers and is being transferred to the buyer. So based on that any claims made by any third party on the property are irrelevant to them as they bought the house in a legal contract that had all the documentation. The claims made by the Latecomer should be addressed towards the seller of the property. In this case, he should refer to his siblings about the sale of the property and any issues related to the will be discussed between them. Newcomers are the new owners because they paid for the property and have the Deed to the house.