Real Estate Information

Understanding Title Insurance


Title to a property is a record detailing the owners of the property and rights associated with the ownership. Title typically shows a progression of ownership from the first owner to the current one. Title is a fairly simple concept, but when it goes wrong it is a nightmare. That is where title insurance comes in.

Title Insurance

Title insurance guarantees that the title on a property is marketable when you purchase the home, condo, land, etc. You should always pay for title insurance. It typically costs a few hundred dollars and will save you a bundle if problems arise.

When you buy title insurance, a title insurance company researches the title for the property. The insurance company will look to see if the title is clear. "Clear" simply means that the seller is truly transferring title to you and no other person can claim ownership. While this sounds fairly simple, rest assured that title problems arise all of the time.

Title Problems

You might be wondering how you could possibly have title problems. Here are a few examples:

1. Divorcing Couples - Divorce is unpleasant and sometime very ugly. In particularly nasty situations, one spouse may attempt to sell a home without telling the other. To gain clear title, you need both spouses to sign off on the sale. If you don't, you are going to become a party of the divorce proceedings. Now, wouldn't that be fun?

2. Estate Sales - If you are purchasing a house as part of an estate sale, there can be real problems. The heirs may not be getting along and in an effort to "get what's mine", may try to sell the residence without including all the heirs in the transaction. If you buy this home, you could end up involved in a lawsuit filed by an heir left out of the transaction.

3. Ingress and Egress Issues - Title to a property can have technical issues related to egress and ingress. Occasionally, one finds title to a property that is so messed up that the owner doesn't have the right to enter or leave the land because to do so would require crossing another person's property. In short, the property is landlocked and something must be worked out with the neighbors. Typically, a solution comes in the form of hard, cold cash?lots of it.

These are just a few issues that can arise with title. With real estate, unique issues can arise all the time.

If you buy title insurance, you don't have to worry about problems with title. If a problem arises, you calmly pick up the phone and call the title insurance company. The insurance company will come up with a solution, even if it means paying you for bad title.

Raynor James is with http://www.fsboamerica.org - providing homes for sale by owner, "FSBO", properties. Are you thinking, "Should I sell my home?" Visit http://www.fsboamerica.org/seller.cfm to sell your home sale for free for one month.


MORE RESOURCES:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


Forbes

Productivity And Perspective: How Top Real Estate Agents Manage Their Time
Forbes
What's the number one way to crush it in real estate? Build a scalable business. Utilize a system that helps you manage a large number of contacts without dropping the ball — that's your CRM. Optimize platforms that allow you to generate leads without ...



Bloomberg

Bain to Manage Harvard Endowment's $3.4 Billion of Real Estate ...
Bloomberg
Bain Capital agreed to manage Harvard University's $3.4 billion in direct real estate investments and hire 22 people who oversaw the portfolio at the Ivy League school endowment.
Harvard Endowment's Real Estate Team Moves to Bain CapitalInstitutional Investor
Harvard to Outsource Real Estate Investment to Bain CapitalU.S. News & World Report
Bain Capital Establishes Real Estate Business | Business WireBusiness Wire (press release)

all 6 news articles »


Seeking Alpha

Real Estate - 5 Fab Signals For Housing
Seeking Alpha
Builder confidence, housing starts, residential construction spending, new home sales, and hiring in the construction industry all bode well. This data reflects healthy and improving economic growth and employment, which should continue in 2018. Five ...



Nextdoor partners with Tribus on real estate listing and lead integration
Inman.com
Real estate tech provider Tribus is partnering with neighborhood-based social networking site Nextdoor to allow for direct listing and lead integration between the two platforms, according to an announcement tweeted out by Tribus on Thursday. You can ...



Real-estate transactions: Dec. 15, 2017
Peoria Journal Star
1617 W. Country Oaks Court, Dunlap, Michael J. and Natalie R. Jensen and Morreale Real Estate Services Inc. to Celis J. and Analezi Barrera, $140,000. 1208 E. Brookview Court, Peoria, Amogh A. and Archana Deo to Joshua K. Hofer, $142,000. 2401 W ...



Russian conglomerate Sistema's real estate unit shelves bond sale
Reuters
Lider Invest, a real estate unitof Russian business conglomerate Sistema, saidon Friday it had postponed indefinitely a planned bond sale,citing an unfavourable environment.

and more »


Sierra Star

Two receive top honors in Mountain Area real estate community
Sierra Star
Each year the Yosemite Gateway branch of the Fresno Association of Realtors honor a realtor and an affiliate for their outstanding service to the community and real estate industry in the Mountain Area. Yosemite Gateway Association of Realtors annually ...



60629 ZIP code real estate and housing profile - Bankrate.com
Bankrate.com
Here's what you need to know about home prices, mortgage rates and other factors when considering buying a home in the 60629 ZIP code in Chicago, Illinois.

and more »


Two arrested for real estate fraud
The Hindu
The Ernakulam North Police on Friday arrested two persons on the charge of duping a person from Vaduthala of ₹10 lakh. Sajukumar, 49, and Robin George, 43, residents of Elamakkara, were arrested by the police for allegedly promising to sell a house and ...

and more »


Sioux City Journal

Mr. Goodfellow: Salem Real Estate
Sioux City Journal
Salem Real Estate staff are shown Nov. 29 at the Sioux City commercial real estate firm's offices: Seated, Karla Hertz and Dick Salem and standing, from left, Judy Hegstrom, Mary Wilkens and Joan Roeder. Salem Real Estate has donated to the Journal's ...


Google News

home | site map | Blog |
Portland Oregon Real Estate Listings | real estate investing | real estate in greece | for sale by owner in atlanta | House for sale: Louisville KY
Exchange Links Here | Links page |
© 2006