Tallahassee Real Estate Blog

Why buy title insurance?  We've all heard the concept - it protects you if there was a mistake or defect in the chain of title and recording of deeds.  Here are two real life situations that have occurred in the past 6 months.

There was a great foreclosure deal on the north side of town off Bannerman Road.  After the survey marks went up, the neighbor asked why the stakes were on his property.  Turns out the neighbor purchased a strip of land from the previous owner, but it was not recorded correctly, and the bank foreclosed on the whole thing - including the strip he supposedly purchased.

A week before closing, the tile company notified a home seller that a previous owner from 15 years ago had never quit claimed his ownership to his wife during a divorce.  He had since moved half way around the world.  Cloud on the title!  Stop the sale!  Luckily the title company tracked him down and he was very cooperative.  But what if he couldn't be located? 

You never know what could have happened 20 years ago that will affect your ownership!  Title insurance is cheap considering the consequences of not being covered!  Call us if you have questions 850.445.2476