Title insurance

[tada]

First of all I like to add my little story about property tax. I own a 5 acre mini-ranchette in Waimea for I was billed and paid $2000 in property tax the 2 years I held this property. So I was cringing when I got this year's bill in the mail today. Open the letter and was pleasantly shocked to see the total was $100?? So maybe my luck is turning! Must be because of the ag exemption form big brother sent me when I first bought the property but only sent back this past year. if so I have to credit my realtor in Waimea Rex Pippin from C&H properties for helping me answer the form affirmatively since my neighbor's horses graze on this lot- unfortunately Rex said couldn't do anything about recovering any overpayments.

Also the feds sent me a USDA "Farm Inquiry" form. Is there any connection with the county's ag exemption form? Do I answer the 1st question affirmatively- "Are you currently involved in any ag activities" citing the horses even if it's just a hobby not a business?

Also came across this article which prompted my conspiracy theorist mind- has title insurance ever been invoked to protect the payer?


http://online.wsj.com/article/SB10001424...39828.html

Other people want to make friends- I just want to make money.
James Cramer

[Dennis]

I have worked in the banking/mortgage industry for more than 30 years in Ohio. I have seen a handful of cases that "having title Insurance" saved the owner from serious losses. I have also seen a handful of cases where the owner did not have title insurance and the resulting disaster. While these types of problems do not happen every day, if it happens to you that is all that matters. When my clients ask me why they need title insurance, I explain that like any insurance policy you hope you never have to use it. But when the problem occurs, you will be glad you have it.

All of this being said, there was a class action suit in Ohio that recently went to settlement over the cost of re-issuing title insurance. The class that was affected is entitled to about a $95.00 refund if they provide the needed documentation. Hope this answers some of your questions. Dennis

[tada]

Sounds like I will definitely be buying title insurance if I can sell this place even if the only problem with the purchase was my realtor kept telling me the check didn't clear.[:I]

Other people want to make friends- I just want to make money.
James Cramer