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Joined: Dec 2005
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Campfire Tracker
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Campfire Tracker
Joined: Dec 2005
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Purchasing a legitimate abstract of title is smart business.
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Joined: Oct 2007
Posts: 14,282
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2007
Posts: 14,282 |
Purchasing a legitimate abstract of title is smart business.
^^^^^^^ This
Its all right to be white!!
Stupidity left unattended will run rampant
Don't argue with stupid people, They will drag you down to their level and then win by experience
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Joined: Jun 2008
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Campfire Ranger
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Campfire Ranger
Joined: Jun 2008
Posts: 18,505 Likes: 2 |
Yep. Just like PMI...just another way to extort money from people.
Every day on this side of the ground is a win.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
In our part of the world Title Insurance is a guarantee that no one or party from the past can come forward at a later time and claim your property. Yeah but around here that's taken care of during the title search when you buy the property. All well and good Indy but that Title search that you mentioned covers the present and are there any liens, etc.. Again, in our part of the world,,,,with the Napoleanic Code,, protects a buyer from some family of long past heirs from coming with, say, a Grant Paper and attempting to claim your property from having a past ownership of sorts. I live in Plantation Country. Paid cash for the home and acreage. I don’t want to be in my dotage way down the line and fight in court for what I paid for and own. This may or may not at all apply to other parts of our Country. It was a one time fee based upon value, etc.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Apr 2011
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Campfire Tracker
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Campfire Tracker
Joined: Apr 2011
Posts: 4,718 Likes: 10 |
I heard a commercial about that. Being retired that's the last thing I need. Has anyone even heard of someone hacking the title on their home and borrowing a bunch of money against it.
What do they actually do? Do any of you have that title insurance? I guess it's about $15 a month.
Do you even think about it happening? Title insurance is a one time premium with protection which follows you even after the house is sold. Occasionally items appear in the chain of title or an adjacent landowner may claim rights based on location of a property line or myriad other reasons. Totally worth it.
The way life should be.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
I heard a commercial about that. Being retired that's the last thing I need. Has anyone even heard of someone hacking the title on their home and borrowing a bunch of money against it.
What do they actually do? Do any of you have that title insurance? I guess it's about $15 a month.
Do you even think about it happening? Title insurance is a one time premium with protection which follows you even after the house is sold. Occasionally items appear in the chain of title or an adjacent landowner may claim rights based on location of a property line or myriad other reasons. Totally worth it. This.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Aug 2012
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Campfire Tracker
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Campfire Tracker
Joined: Aug 2012
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I find it hard to believe any bank or loan company would lend money with a title search as they would want to know that the borrower owned the property and what position that lender would be in. So it sounds like a scam to me.
Life can be rough on us dreamers.
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Joined: Jan 2002
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Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2002
Posts: 12,879 Likes: 5 |
I heard a commercial about that. Being retired that's the last thing I need. Has anyone even heard of someone hacking the title on their home and borrowing a bunch of money against it.
What do they actually do? Do any of you have that title insurance? I guess it's about $15 a month.
Do you even think about it happening? Title insurance is a one time premium with protection which follows you even after the house is sold. Occasionally items appear in the chain of title or an adjacent landowner may claim rights based on location of a property line or myriad other reasons. Totally worth it. It is probably worth noting that the title insurance typically bought at the closing of a property lists the mortgage holder as the loss payee, and expires at the end of the mortgage contract. If you want to protect yourself, a separate policy with you as the beneficiary should be purchased.
Sic Semper Tyrannis
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Joined: Dec 2013
Posts: 44,554 Likes: 12
Campfire 'Bwana
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Campfire 'Bwana
Joined: Dec 2013
Posts: 44,554 Likes: 12 |
Purchasing a legitimate abstract of title is smart business.
^^^^^^^ This That's NOT what the OP was talking about. Anybody with the equivalent of 1/2 an iguana brain knows that..
Slaves get what they need. Free men get what they want. Rehabilitation is way overrated. Orwell wasn't wrong. GOA member disappointed NRA member 24HCF SEARCH
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Joined: Dec 2013
Posts: 44,554 Likes: 12
Campfire 'Bwana
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Campfire 'Bwana
Joined: Dec 2013
Posts: 44,554 Likes: 12 |
Yep. Just like PMI...just another way to extort money from people. Exactly right, antlers. The banks just do it with a starched white shirt and tie. 
Slaves get what they need. Free men get what they want. Rehabilitation is way overrated. Orwell wasn't wrong. GOA member disappointed NRA member 24HCF SEARCH
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Joined: Feb 2004
Posts: 17,736 Likes: 1
Campfire Ranger
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OP
Campfire Ranger
Joined: Feb 2004
Posts: 17,736 Likes: 1 |
Part of the reason I'm asking is, my mother died early in the year and left the house to me and my sister. In her case, her attorney was familiar with the will and once we signed everything he turned it in to the county to have the house put in our name. But how hard would it be for one of these internet Identity thieves to hoax up a death certificate, and a Quit deed, and have the title transferred into their name, or even someone elses name, then go to a mortgage company to refinance the house? Seems like that wouldn't be too hard, I just know I couldn't do it.
NRA LIFE MEMBER
GOD BLESS OUR TROOPS
ESPECIALLY THE SNIPERS!
"Suppose you were an idiot And suppose you were a member of Congress... But I repeat myself."
-Mark Twain
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Joined: Jun 2008
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Campfire Ranger
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Campfire Ranger
Joined: Jun 2008
Posts: 18,505 Likes: 2 |
A huge part of our economy is based on scare tactics. From scaring people that their car “will” break down and selling them a policy to cover them for that, to scaring them that their MediCare ABCDEFG won’t be enough and selling them an additional policy for that, to scaring people that the home that their parents lived in and paid for for years (and now owned outright) might be owned by someone else and selling them a policy to cover them for that...fear-mongering and extortion to the Nth degree. Lotta consumers are insurance rich but money in their pocket poor. Insurance companies are not your friend, they’re legalized crooks. They’ll sell ya’ an insurance policy for the insurance policies that ya’ have...and try their best to scare you into thinkin’ that you need it.
Every day on this side of the ground is a win.
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Joined: Apr 2017
Posts: 3,268
Campfire Tracker
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Campfire Tracker
Joined: Apr 2017
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I feel like we're talking about two different things in this thread.
Title insurance is standard in all states, except Iowa if I remember correctly and insures you as the owner, and your lender if any, in the event that the person who sold real estate to you didn't have clean title to the property himself. Those things can and do happen but infrequently, and this isn't a scam. That title insurance is on the hook to defend your title to the property, clean it up if necessary or pay you or your lender in the event a superior claim to your dirt arises.
The radio ads for "title lock" or whatever purport to "protect" you against people who fraudulently file documents to make it look as if they own your property, and then the fraudsters supposedly borrow against that, leaving you to foot the bill. I am unaware of that happening at all, let alone a wave of it, and I think that buying "title lock" is a scam. THIS... NEVER buy a home or land without title insurance... NEVER
"If there are no dogs in Heaven, then when I die, I want to go where they went"
Will Rogers
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Joined: Apr 2011
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Campfire Tracker
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Campfire Tracker
Joined: Apr 2011
Posts: 4,718 Likes: 10 |
And there are differences between owners title insurance and lenders title insurance. Only the uninformed in today's age would view title insurance as a scam.
The way life should be.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
And there are differences between owners title insurance and lenders title insurance. Only the uninformed in today's age would view title insurance as a scam. And there’s quite a few that do.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Dec 2013
Posts: 44,554 Likes: 12
Campfire 'Bwana
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Campfire 'Bwana
Joined: Dec 2013
Posts: 44,554 Likes: 12 |
I feel like we're talking about two different things in this thread.
Title insurance is standard in all states, except Iowa if I remember correctly and insures you as the owner, and your lender if any, in the event that the person who sold real estate to you didn't have clean title to the property himself. Those things can and do happen but infrequently, and this isn't a scam. That title insurance is on the hook to defend your title to the property, clean it up if necessary or pay you or your lender in the event a superior claim to your dirt arises.
The radio ads for "title lock" or whatever purport to "protect" you against people who fraudulently file documents to make it look as if they own your property, and then the fraudsters supposedly borrow against that, leaving you to foot the bill. I am unaware of that happening at all, let alone a wave of it, and I think that buying "title lock" is a scam. THIS... NEVER buy a home or land without title insurance... NEVER OP never said anything about this. But, carry on. Fugking Amazing.
Slaves get what they need. Free men get what they want. Rehabilitation is way overrated. Orwell wasn't wrong. GOA member disappointed NRA member 24HCF SEARCH
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Joined: Dec 2013
Posts: 44,554 Likes: 12
Campfire 'Bwana
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Campfire 'Bwana
Joined: Dec 2013
Posts: 44,554 Likes: 12 |
And there are differences between owners title insurance and lenders title insurance. Only the uninformed in today's age would view title insurance as a scam. And yet another one that can't follow along. Geebus.
Slaves get what they need. Free men get what they want. Rehabilitation is way overrated. Orwell wasn't wrong. GOA member disappointed NRA member 24HCF SEARCH
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Joined: Jun 2013
Posts: 4,831 Likes: 2
Campfire Tracker
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Campfire Tracker
Joined: Jun 2013
Posts: 4,831 Likes: 2 |
You guys are confusing two very different things. One is a scam (OP's question) and the other is smart business for clear title - I had to use the latter myself and they paid ALL my legal fees.
"A Republic, if you can keep it." ~ B. Franklin
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Joined: Dec 2005
Posts: 4,185
Campfire Tracker
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Campfire Tracker
Joined: Dec 2005
Posts: 4,185 |
Purchasing a legitimate abstract of title is smart business.
^^^^^^^ This That's NOT what the OP was talking about. Anybody with the equivalent of 1/2 an iguana brain knows that.. With abstract of title, NOTHING else is necessary. THAT is my point which did not need to be said.
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Joined: Dec 2013
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Campfire 'Bwana
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Campfire 'Bwana
Joined: Dec 2013
Posts: 44,554 Likes: 12 |
Purchasing a legitimate abstract of title is smart business.
^^^^^^^ This That's NOT what the OP was talking about. Anybody with the equivalent of 1/2 an iguana brain knows that.. With abstract of title, NOTHING else is necessary. THAT is my point which did not need to be said. He never asked about that!!@@! That's my point!!! Stop ass-uming and f****** read.
Slaves get what they need. Free men get what they want. Rehabilitation is way overrated. Orwell wasn't wrong. GOA member disappointed NRA member 24HCF SEARCH
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