Monthly Archives September 2018

Honest Abe Lost His Home—Twice

    Abraham Lincoln was born in a one-room cabin in Kentucky. His father paid $200 for the cabin and 300 acres. It wasn’t much, but it was home. However, the Lincolns didn’t have the right papers and someone else had a better claim to the land. At the age of three, Abe’s family packed up and moved. Four years later, Lincoln’s father had to go to court to prove ownership rights again. Abe’s father, Tom, won the suit, but moved his family to Indiana due to the fear of losing another property due to title issues.   The Lincoln’s
Read More

How is a Title Search Conducted?

A professional will search public records for debts, legal judgments and other homeownership issues to give you peace of mind in your investment. Some of the items reviewed include: prior deeds mortgages divorce decrees court judgments delinquent taxes child support payments A title professional will also look for covenants, conditions and restrictions and other types of easements. When an issue is discovered, the title professional will take care of it—typically without you even knowing about it. If the problem is not easily resolved, you will be notified. Title searches reveal problems on more than a third of all residential real
Read More

Real-Life Title Problem

You’ve heard that you really need title insurance, but sometimes it’s just head knowledge that doesn’t feel urgent or pertinent to your life.   If this sounds like you, read about these real-life examples of when title insurance was really a lifesaver.   Missouri Couple Saved from Foreclosure A couple purchased a home from their landlord, who had taken out a $419,000 loan to purchase the property along with several other properties. The lien was missed during the title search, so the lender paid the landlord instead of paying off the lien. Despite making their payments, the bank sent a
Read More

5 Things Every Real Estate Agent Must Know About Title Insurance

Agents are well-aware that homebuyers can be overwhelmed by the paperwork, fees, and task lists facing them prior to closing.  It is critical that your clients do not overlook one key step in this flurry of activity: acquiring a buyer’s title insurance policy.   Title issues arise more often than buyers might think, and title insurance protects your clients against costly legal disputes over whether they have a free and clear ownership interest in their homes.  Given frequent client confusion on this issue, every real estate agent should know the following five things about title insurances.   1.     What is
Read More

Why 20% of Homebuyers May Not Sleep Tonight

Each year, approximately 20% of homebuyers fail to protect themselves by not getting owner’s title insurance. Unfortunately, this leaves them exposed to serious financial risk—causing endless worry and regret. If you’re thinking of buying a home, here’s what you need to know to protect yourself and your property rights, so you can rest assured once you’ve purchased your home. Looking For Potential Threats   During the home-closing process, your title professional will help transition the home from the seller to you, the homebuyer, by examining public records. Generally, if a problem is discovered, the title professional works to resolve them
Read More