subject to and title search - Posted by cani

Posted by Alicia on October 06, 2003 at 12:40:16:

I don’t do the entire close the way you do for other deals (using the title company). I do the closing myself, but if I am in doubt about the title, I purchase a new title insurance policy in the land trust’s name. There really is no other fees involved if you are transfering the property to a trust for estate planning purposes. That is what the world sees, then you take the beneficial interest like you normally would. Just do the paperwork like you normally would for a subject to deal…

subject to and title search - Posted by cani

Posted by cani on October 04, 2003 at 19:19:05:

Hi,

When taking title “subject-to,” without closing cost and escrow companies involved, how do I ensure his title is clear? I can do my own title search but what if an unrecorded lien show up after I have the title? How do you folks proceed that?

Re: subject to and title search - Posted by Alicia

Posted by Alicia on October 05, 2003 at 24:01:42:

I have a title company either do a title search or buy a new policy in a land trust. I put the property in a land trust and then purchase a new title policy. This way, if any new liens show up from the old owner, they can not attach to the house. Good Luck.

Alicia

Re: subject to and title search - Posted by cani

Posted by cani on October 05, 2003 at 02:16:45:

So you do pay title insurance. Do you close the normal way at escrow and pay for the closing cost as well?