Title Insurance and Prop 13

[Scott Loopstra]

Hello, Smart Folks. 

I have been 1/4 owner of a property and am now buying out the other three owners, all siblings. We inherited the house in 2015 as a result of death of our parents. Is there any reason whatsoever to buy title insurance? Doesn't make sense to me since with know the title since 1958. But just want to make sure. Along similar lines, do any Californians know how to keep the property under the auspices of Prop 13 and maintain favorable property tax status? Thanks in advance.