title company - Posted by Landon


#1

Posted by raelynn mitchell on December 18, 1998 at 12:47:16:

did not even OWN the property (but committed fraud, got your money and ran), and you paid cash for it!

Get title insurance and you get to file a claim, and title company gets you title or gets to give you your money back (and THEY take the $100,000 loss, not you).

It can and DOES happen every now and then…

raelynn


#2

title company - Posted by Landon

Posted by Landon on December 16, 1998 at 09:57:16:

What will a title company do for me? What questions should I be asking them?


#3

Claims Chronicles - Posted by MilNC

Posted by MilNC on December 16, 1998 at 11:45:28:

A must read: The Claims Chronicles

http://www.firstam.com/faf/html/news/chronicles/1000.html


#4

Re: title company - Posted by Jimbob

Posted by Jimbob on December 16, 1998 at 10:38:29:

Landon,

A Title Company researches the title on a specific property to ensure the buyer receives clear title without any unknown defects, clouds, liens, encumbrances, easements, etc. In essence they will ensure you the buyer are getting a marketable title to the property.

In my opinion, it is mandatory that you obtain title insurance when buying any piece of real property.

Can you imagine if you bought a house for $100,000, did not get title insurance, and after you closed, found out someone had recorded a $30,000 second mortgage against the property? Ouch!

Jimbob