Title Insurance Question.....
I obtained a Title Search/Insurance from a title company. However the Title Co. informed me that the search was 3 months backlogged. (The results would not uncover a lien placed w/in the last 3 months or so)
Question: Is there a way to do a search at the Register of Deeds that would provide a more up to date result?
Thanx
If I understand you correctly, the title company is saying that the backlog is in processing of the records. The government workers are 3 months behind. That's quite a logjam. If the instruments were recorded, the title company would have access to them. If they are not recorded neither the title company nor you will have access to the data.
I knew some day all that time I spent in a Title Co. would pay off. It sure did not then. Talk about low wages. My lunch was one peanut butter sandwich, light on the peanut butter and nothing else.
The title company have access to all recorded information. That is if your area of the world is up to date.
What is never up to date and has to be searched the night before you close is the Court House, Superior Court filings and the Municipal (if you still have such a thing) filings. The crew search all stuff not checked by prior search. A lien, a judgement, an IRS goody or if in Calif. a lien from Calif. Franchise Tax Board. they inform the Title officer of any items and list them and if nothing is happened they also inform him. He then records and writes his policy.
Now then, when the Title Companies jam up cause they are not playing the game correctly or are responding to some corporate decisions to reduce costs whatever. Your friendly Abstractor can then duplicate the function and give you a report by just doing what they do. check the records and the court house and list everything. He cannot give you a title policy, but he can if he knows his stuff give you an opinion on title. At least you know.
For a truth. Sometimes, yes just sometimes when the deal is small and it is in house or I need to record because the sun might raise and people change their mind. I do an abstract and close and mark the time.
Some time in the future when the Title Co. is capable and has the time. I ask for them to insure as to that recordation time and they do. Sometimes I do not bother. Why, cause I done checked it myself.
Hope this is of some help Lucius
THANK YOU!
You can ask to have "gap" coverage added to the title insurance for a small extra charge. The gap coverage is a safety for any leins or judgements filed between the time of the original search and commitment and the actual closing or perhaps even up to beyond that. Ask about it. It may well be worth the extra charge.
D*MN!!!!! I wish I had known that or at least been given the option! I already had a title insurance/search done! Arrrrrrrrrg!
Thanx for the info