All posts tagged: deed

A Deed Among Family?

Who needs a deed among family members?  The family members do!!  Good deeds support good relations among kin, especially when inheritance gets involved.

When property changes hands from branch to branch on the family tree, keep the paperwork in order and maintain title insurance so that ownership rights can be properly recognized and defended should a dispute arise.  Don’t take shortcuts just because it’s family—don’t take shortcuts because it IS family!!

A major source of title challenges is from family transactions in real estate.

Even if the old homestead has been in the family for fifty years, property disputes can happen at any time.  Family disputes tend to be the biggest and most emotional.  When there’s a lot of emotion, there’s no rational—and it’s costly!  Want to help an attorney pay off his college loan, pay for litigation on a family dispute.  When somebody says “I’m fighting this for the principal of the matter,” they usually mean:  “For all the principal in your bank account!”

It’s expensive to be totally right!!  Have you hired a lawyer lately?  Remember, if a person—family member or otherwise—files a claim against your property, YOU have to pay for the legal defense of your real estate rights.  Title insurance covers those court costs and provides the legal representation.

Whether Uncle Elmer thought your daddy left the place to him, or Cousin Jesse claims your septic tank is on her side next door, a title insurance policy provides the financial and legal means to assert your ownership rights.

As of March 2011, a lot of companies started issuing the new and improved title insurance forms which allowed for those who inherit property to also inherit the title insurance.  But any policy issued without the updated forms is not assumable to heirs; therefore, even though granddaddy had coverage, it doesn’t mean you do.

Don’t know if your inherited property came with title insurance?  Land Title of America, Inc. will be glad to check—it’s a free service—just stop by our office located on U.S. Highway 1 South in St. Augustine (in the Lewis Point Plaza) or give us a call:

Land Title of America, Inc.

2495 U.S. Highway 1 South

St. Augustine, Florida

(904) 797-9600




Stephen CollinsA Deed Among Family?
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Forwards and Backwards – Coverage of Title Insurance

An owner’s title insurance policy protects the financial interest of a real estate owner should there be a challenge to his ownership. For instance, what if a deed were recorded incorrectly at the courthouse and public records showed two owners for the same piece of land? Yeah, there’d be a day in court for that and one day in court can be very expensive, especially if you have to pay the lawyer yourself! That’s where a title insurance policy protects your financial interest—it pays all legal expenses in the defense of your property ownership.

Title insurance coverage is unique because it reaches both forwards and backwards simultaneously to protect you.

It is good from the day you purchased it backwards. It covers everything that happened before your purchase, including all unforeseen title flaws, and it pays litigation should someone challenge your ownership through a lien, claim, or taxes. Whether or not someone has the right to challenge you, you still have to prove your ownership in a court of law, and that can be cost prohibitive.

For a one-time fee at closing, you can buy an owner’s title insurance policy that insures you into the future, even protecting you after you sell that property through all past hidden claims. Don’t throw away that title insurance policy! Because the contracts and the new title insurance of the buyer require you to convey with warranties, you become responsible for anything that has ever transacted on the property.

Title Insurance is an inexpensive way to protect your now and your future from the flaws of the past.

Stephen CollinsForwards and Backwards – Coverage of Title Insurance
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