A question about squatters getting title to your home.

[35 Whelen]

Handyman who turned the tables on squatters claims he's hacked their system and can handle yours too

Handyman Flash Shelton is using his experience with removing squatters from his mother's California home to offer squatter removal services to others who are in need.

www.foxnews.com

 

[Nicodemus]

When I moved in with the squatters with all my newly acquired pets, they leave. They`d leave real fast.

 

[MudDucker]

With old fashion in person filing, this wasn't so much of a problem. Now with electronic filing, this is taking off in an ugly way.

Title insurance is about the only way to protect yourself. If someone does this to you, you notify the title insurance company and they hire and pay the lawyer to clean it up.

Had a friend with a VERY expensive beach house that some long ago family trust tried to claim the beach in front of. He hired and paid an atty in Tallahassee, until he called me on something else, but started complaining about the fees. I told him that nearly all residential real estate in Florida is closed by title insurance companies and you get coverage. He found his policy, made a claim and sat back while they took over at no cost to him.

In Georgia, it is optional. I know some attys in the Atlanta refuse to close without it due the time lag with the clerks up there. Of course, most don't tell you that they are the title agent and get a commission. I make a point to disclose that.

 

[pjciii]

When I moved in with the squatters with all my newly acquired pets, they leave. They`d leave real fast.

I can hear it now. Running through your house with a big Ol gator on your tail. Yelling "Skin um Pilgrim and I'll get you another"

 

[westcobbdog]

OK another stupid question:
I thought I had Title insurance when I closed. Is that an assumption? I know I paid for a title search to make sure free and clear.

Title ins is at rare times declined by the buyer likely not really understanding it and just seeing a large fee in their column on the settlement statement. The closing attorney sell and issue the policy and it's always cheapest to buy at the table vs later on..Attorneys push them, too, so chances are you bought it unless you remember declining it. You are covered as far as your equity position in the property goes.

 

[pjciii]

Title ins is at rare times declined by the buyer likely not really understanding it and just seeing a large fee in their column on the settlement statement. The closing attorney sell and issue the policy and it's always cheapest to buy at the table vs later on..Attorneys push them, too, so chances are you bought it unless you remember declining it. You are covered as far as your equity position in the property goes.

No I don't remembering declining it. I get my closing documents out of the safe and look for it.

 

[MudDucker]

Title ins is at rare times declined by the buyer likely not really understanding it and just seeing a large fee in their column on the settlement statement. The closing attorney sell and issue the policy and it's always cheapest to buy at the table vs later on..Attorneys push them, too, so chances are you bought it unless you remember declining it. You are covered as far as your equity position in the property goes.

What you say is true around Atlanta, but not so much the rest of the state. I rarely get a buyer electing to buy it and if the bank is requiring it, the buyer side is a pretty good deal.

 

[Throwback]

What you say is true around Atlanta, but not so much the rest of the state. I rarely get a buy electing to buy it and if the bank is requiring it, the buyer side is a pretty good deal.

Watched a clip last night where a guy had a major water main easement through his house that was from decades prior. Had been missed totally by everyone. Crazy

Florida .

 

[westcobbdog]

With old fashion in person filing, this wasn't so much of a problem. Now with electronic filing, this is taking off in an ugly way.

Title insurance is about the only way to protect yourself. If someone does this to you, you notify the title insurance company and they hire and pay the lawyer to clean it up.

Had a friend with a VERY expensive beach house that some long ago family trust tried to claim the beach in front of. He hired and paid an atty in Tallahassee, until he called me on something else, but started complaining about the fees. I told him that nearly all residential real estate in Florida is closed by title insurance companies and you get coverage. He found his policy, made a claim and sat back while they took over at no cost to him.

In Georgia, it is optional. I know some attys in the Atlanta refuse to close without it due the time lag with the clerks up there. Of course, most don't tell you that they are the title agent and get a commission. I make a point to disclose that.

It’s optional to the buyer if all cash, but if said buyer is getting a loan it’s mandatory he pay for his lenders coverage.

 

[westcobbdog]

Watched a clip last night where a guy had a major water main easement through his house that was from decades prior. Had been missed totally by everyone. Crazy

Florida .

That would only be discovered by two means: the seller knew about it and disclosed it or buyer got an Alta survey where title was included. A basic survey wouldn’t reveal it because it didn’t search title, things that belong to and run with the property like a utility easement. The law on disclosure is a seller must reveal what couldn’t be discovered thru the course of a normal inspection. Just because someone is selling as is doesn’t relieve them of their disclosure requirements.

Few years back in buckhead, two agents with a large well known broker listed a house with a big storm drain pipe right under it. The agents became aware of the pipe thru an issue and kept the fact hidden. Buyer then buys home, pipe becomes an issue, new owner calls out the very same co that came out initially so they knew all about the undisclosed pipe and the issues it caused. After a likely short conversation with a lawyer, the large brokerage firm became the proud new owner of the home with the problematic pipe underneath it.

 

[MudDucker]

It’s optional to the buyer if all cash, but if said buyer is getting a loan it’s mandatory he pay for his lenders coverage.

Used to be, but more and more banks are not requiring title insurance.

 

[Meriwether Mike]

I always buy title insurance. Its cheap peace of mind.

 

[westcobbdog]

Used to be, but more and more banks are not requiring title insurance.

Banks make buyers buy them a policy, it's not negotiable ( if buyer is getting a loan ) It protects the banks equity position in the home until they get paid off. The buyer policy itself is what is optional.

 

[MudDucker]

Banks make buyers buy them a policy, it's not negotiable ( if buyer is getting a loan ) It protects the banks equity position in the home until they get paid off. The buyer policy itself is what is optional.

‘did you read what I posted. A lot of banks are no longer requiring it.

 

[oldfella1962]

So long as people are willing to lie, frauds will be perpetrated. This fraud is perpetrated on the office of the Clerk of Court who files the fraudulent documents in the County records. It could be lessened if it was made a requirement that all persons wishing to enter a legal transaction that required a filing in the county records did so in person with enough documentation that he was who he said he was to choke a mule. It could be lessened further by requiring that any Clerk of Court that allowed a fraudulent filing should pay for any loss incurred by any innocent party relying on the fraudulent record that was filed.

This would put a severe hardship on all parties and still might not stop all of it.

Hold on - I need more documentation at the DMV to renew my driver's license than I do to get a house title? I have a solution - it sounds crazy, but it just might work. Have the DMV train the Circuit Court on how to conduct business in a sane, fair & logical manner!