All posts tagged: ownership rights

WAD OF CASH

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How big of a wad of cash can you flush down the toilet?  Is $10,000 too much?  I mean you might have friends coming over, what if only a few thousand dollars clogged the system?  Are hundred dollar bills septic safe?  Those are the questions you have to ask if you own real estate without an owner’s title insurance policy.

Title claims happen in the best of families, and in the worst.

Even with a title search, there can still be questions of property ownership due to clerical errors, unrecorded deeds and documents, and a whole range of other circumstances.  It is the homeowner’s responsibility to defend their ownership rights against such claims.  Even if the claims have no validity whatsoever, it is still your responsibility to stand up in court and say, “No, that’s mine!”  Otherwise you could automatically lose your home.

If you don’t have title insurance, then you have to pay the legal fees to defend your ownership rights.  The real tragedy is that you could foot the bill in court—the lawyers, the filing fees, and other legal costs—and you could still lose.  That means your money is gone AND your house is gone.  You could be left without a pot…to throw your money away in.

Here’s an idea:  don’t risk your money or your house—get an owner’s title insurance policy. 

An owner’s title insurance policy not only pays the court costs, the policy also provides the legal defense.  Yep, they bring the lawyer.  How much does title insurance cost?  A lot less than a plumber.  For a low, one-time premium, you can purchase a lifetime of title insurance that covers your financial obligation toward the property.  Furthermore, if you do get sued for title to your house, and if your case does not prevail in court, then you get the amount of the policy.

Even with title insurance, you could still lose your case, but you don’t lose everything.  Without title insurance, you might as well chuck wads of cash down the toilet and find out how much you can afford to flush.

Land Title of AmericaWAD OF CASH
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TITLE INSURANCE IS YOUR FINANCIAL SEAT BELT

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Are you really that stupid that you would own real estate without an owners’ title insurance policy?  Whether you purchased or inherited, the risk is the same.  Look ya’ll, I’m gotta house!  Risk is in all real estate; however, you can reduce your financial risk with an owners’ title insurance policy.

Now why would I want to go and spend more money on an owners’ title insurance policy when I’m trying to save money?

Let’s put it this way:  whether you drive a minivan or a convertible, you wear a seat belt for safety.  You may have financed your old minivan and made a cash deal on your convertible—either way, the accident risk is the same.  Title insurance is your real estate seat belt.  You never want to use it, but it saves your financial life.

Wear your seatbelt, EVEN ON A CASH DEAL.

ESPECIALLY ON A CASH DEAL!!

IF IT’S A CASH DEAL, IT’S YOUR CASH ON THE LINE.

If something goes funny with your ownership rights, then you stand to lose everything you put into it, and then some.  The circumstances of real estate transactions aren’t always cut and clean.  Where there’s room for doubt, there’s room for a lawsuit.  Do you know how much lawyers cost?  Do you want to find out?

Idiots abound, but you don’t have to be one.  You can do everything right—do the title search and get the survey—but that doesn’t stop some idiot from challenging your legitimate ownership of that property.  And as the owner, it’s your responsibility to defend your legal rights to the property.  Title insurance not only takes the burden of the legal defense, they also pay the bill.

Did you get that?  For a low, one-time premium, title insurance provides AND pays for the legal defense of your ownership rights. 

You can’t always stop stupid, but you can financially protect your property with title insurance.

* Please understand all title insurance policies have exceptions in their coverage.  Be sure to have an attorney review those exceptions with you.

Land Title of AmericaTITLE INSURANCE IS YOUR FINANCIAL SEAT BELT
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IS ANYBODY THERE? THE PROBLEMS WITH NATIONAL TITLE COMPANIES

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National title companies are easy to find online…unless you have a problem.  If you need help to defend your ownership rights of your property, then it’s up to you to navigate a website, or you’re at the mercy of a telephone tree.

It could be a lesser claim, like your neighbor says that your well is three feet on her property, or it might be something bigger, like a survey error puts a highway smack-dab through the middle of your living room.  Either way, legal fees are expensive.

The claim may be crazy, but it’s your responsibility to defend your ownership rights.  Title Insurance goes a long way to help you.  Title Insurance not only pays for your legal defense, your policy also provides the attorney.  That’s great…so long as your title company answers your call.

A local title company has more accountability to you.  If there’s a challenge to your real estate title, a local company will take your call, or you can walk in the door and speak to someone face-to-face for help.  People who work at a local title company are going to see you at church or school functions, shopping at Wal-Mart, or enjoying downtown.  When they review your closing documents with you, they’re going to make sure you understand them.  A local title company is not going to close the deal over the Internet and never see you.  They’re there to make sure your ownership goes smoothly, and to defend your rights if it doesn’t.

Furthermore, a local title company normally costs less than a national title company.  A national title company may tag on a fee for one region which does not apply for your location.  A local company will only apply fees specific to the area—you won’t have superfluous expenses.  National companies also may add fees for working long distance, fees that would not be charged when using a local title company.

The personal touch of a local title company gives you superior service in cost and accountability for your most valuable investment, your home.

Land Title of AmericaIS ANYBODY THERE? THE PROBLEMS WITH NATIONAL TITLE COMPANIES
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