|
|
|
Common Title Problems Common
Title Problems The
30 most common title problems encountered by title companies will be listed
and explained in the following “Title Tips” as a series for the next group of
issues. Some of them will be very obvious, some of them will be relatively
obscure, and some of them will border on the “Could this really happen?” side
of reality. We, at Benchmark Title, have experienced some of them, and I in
my near to 35 years in the industry, have seen most of them and experienced a
few personally. Title
issues not disclosed by the most careful search of the public records-called
hidden hazards- are the most common. There are times when, no matter how
efficient or careful the offices in the county may be, they are human and
will make mistakes. Title Insurance protects your interest in your property
against those “hidden hazards” Forged
deeds and / or releases have become a very common form of title problem,
however, with the appropriate amount of due diligence a lot of these can be
avoided through signature comparison on prior documents. Instruments
executed under fabricated or expired Power of Attorney is another form of
potential forgery and we are trained to recognize, or at least be aware of
this possibility. Thoroughly reviewing the document before accepting it as
valid is our best defense in these cases checking the type and expiration
date if any is very important. Deeds
delivered after the death of the grantor or grantee or without the consent of
the grantor. What ever the date of the document may be, it becomes invalid
upon their death if it has not been delivered and or recorded in the
appropriate county records office. Sale
of property by an alleged married couple that are really not who they purport
to be. If you hold title as husband and wife, most often in the event of a
sale you must sell as husband and wife. This is one of the reasons we require
photo ID at each closing from all the parties to the transaction. It is not a
pretty picture when the husband and non-wife, or wife and non-husband attempt
to sell the property without the real spouses knowledge. Some
of this first set of common title issues are easy to catch and correct and
some are very difficult to find. Another reason to be sure to contact
Benchmark Title when you are buying or selling property. Any questions can be directed to Benchmark Title at
618-239-3750. Please feel free to call or email:
|
Dates to Remember Be the first in your office to try out SureClose.com, Benchmark Title's new FREE
online transaction management system. Why waste time making status phone
calls or standing by the fax waiting for your title commitment when you can
get what you need instantly from your own computer. Visit SureClose.com for more information or
call April
Tolan, our SureClose Specialist, at 618-239-3750 for your sign-on so you
can start saving yourself time and money today. We'll even give you and your
clients a free CD at closing containing copies of their closing documents. Give me my policy! Did you know that lenders and home buyers now receive their
title policies at the closing table? Contact Michelle
Null, VP Escrow Operations, to learn more about this exciting new
program. Ready to refi? Lenders and homeowners will want to hear about our
fantastically low new refinance rates. Contact us today for a quote! Why wait? You can place your next title order now by clicking here.
|
||||
|
We send special notices and tips to customers who have given
us their |
|||||
