Tag: title insurance
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Title Talk: What’s a Municipal Lien Search?
You might think a title search is an all-in-one exercise. It’ll show any outstanding liens against the title to the home you’re buying, right? Not necessarily. Not all municipal liens get filed with the county recorder of deeds’ office. Unrecorded liens don’t appear in a title search. And they might or might not be found…
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First American Title Presents “Order Insights”: Real-Time Fraud Alerts for Deed Transfers
Fraudsters never rest. So it’s good to know that one of the major U.S. title companies is fortifying its security system to protect deed transactions from bad actors. First American Title, the well-known title insurance and settlement services firm, has introduced Order Insights. The company calls it a real-time, transaction-based fraud alert system. All agents…
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A Title Agent Turned Swindler? It’s Not Unheard Of.
Ryan Goodrich, now a convict, used to be a trusted deed expert. For years, Goodrich ran a title company. Behind the scenes, Goodrich stole millions of dollars from home sellers and buyers, their mortgage lenders, and even peers in the title industry, said Utah officials. The activity, they alleged, involved sending people falsified receipts for…
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Biggest Deed Slip-Ups (and How Not to Make Them)
Mistakes happen. When they happen to a deed, they can go unnoticed for a long time — sometimes leaving a clouded title through a chain of owners. But at some point, a deed mistake catches up to an owner, buyer, or heir. So, let’s take a look at 8 common homeowner deed mistakes, and how…
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Congrats on Closing! Now, How Will You Get Your Deed?
Closing is the last step before you have the keys to your new home in hand, and your deed is on its way. The all-important deed is a legal instrument (document) that shows the transfer of property ownership from the seller, over to you, the buyer. This document confirms your ownership status for the property…
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When Do You Need a Warranty Deed?
Sometimes it’s best to use a warranty deed to transfer property. It’s common whenever there’s a seller and buyer who didn’t know each other before their deal. In fact, a mortgage lender or insurance company could insist on a transfer by warranty deed. But why? A warranty deed transfers a title with certain protections. This…
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Seniors Under Pressure: Could Someone You Love Sign a Deed Away?
It’s an all-too-common story. You’re caring for your parent, who’s a deed holder. And when you’re not looking, another person persuades the senior to sign over the deed. Who puts pressure on elders to give away their homes? It could be a renter. Maybe an acquaintance or relative. Maybe a health assistant or handy person. …
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Selling a Home, But Not Your Own: The Dramatic Rise of Seller Impersonation Fraud
The American Land Title Association surveyed hundreds of title companies — 783, to be precise — and found seller impersonation fraud rising year over year. More than 20% of the firms reported recent instances of this bizarre activity. Crafting elaborate hoaxes, these con artists pretend to be ordinary real estate owners. They are masters of…
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What If the Deed Is Not Recorded? (Never Let This Happen.)
By accepting a deed, you become a new property owner. Be sure to file the deed you accept with the county recorder’s office. The recording becomes your public notice that you now own the property described on the deed. You might have heard that a deed works to transfer property as soon as it’s offered…
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Can Working with a Real Estate Attorney Instead of an Agent Save You Money?
A lawyer can guide you through a real estate transaction. A lawyer can prepare (or check) your paperwork, represent you, and advocate for you. A lawyer runs the title searches, ensuring that the seller has a good title to transfer. Real estate attorneys also handle settlements. And yes, using a lawyer rather than a…
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Wire Fraud at Closing. Who’s on the Hook?
Over the past three years, wire fraud in home purchases has gone up sharply. Many victims are turning to court to seek damages after losing much of their life savings to the scammers involved. But who can they go after? The bank? An insurer? The title company? The agent? Some of the players (like banks…
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Out of Control: Title Insurance and Other “Extras” Home Buyers Pay
$18K annually. That’s what the average homeowner pays to be one — above and beyond the price of the home and mortgage, property taxes, and utilities. Mortgage closing costs make up a third of that figure. U.S. housing costs are outpacing the country’s overall inflation. Homeowners’ insurance alone is up 11% year over year. And…
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Is the Deed Still Good After Erosion?
Boundaries of waterfront property can change. And today, more and more, homes near beaches or tidal rivers are losing land. The issue? Climate-related sea level rise. The impact? U.S. coastlines will see tides rise by about a foot between now and 2050, according to the National Oceanic and Atmospheric Administration. That’s a century’s worth of…
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Real Property Basics: What Is a Clear Title?
A clear title. The term is commonly used to mean the deed holder can prove ownership, unquestionably. To verify that, a title company can conduct a title search. Other parties’ claims on the title are called title defects, or clouds on title. What do these claims look like? They might be mortgage liens, court judgments,…
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Can We Record Deeds on the Blockchain?
Blockchain, the underlying technology of cryptocurrency, is a digital recording system, leading innovators to wonder if it could solve challenges in deed recording. The U.S. deed recording system is tried and true. At the same time, title defects and tangled titles are much too common. Additionally, deed fraud harms vulnerable homeowners.. What if our title…
