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Why isn't this computerized and super easy?
by robrenaud 9y ago
Why isn't this computerized and super easy?
- dragonwriter 9y agoIn short, as I understand, because history, cost, and the Constitutional priority of property rights over administrative convenience.
- brianwawok 9y agoHow do you computerize a hand written note between two guys in 1800 and stored in a bank? Title insurance is dumb but in some form its pretty nice. Likely overpriced by an order of magnitude or so.
- dingaling 9y agoWhen I paid-off my mortgage in the UK I was disappointed not to receive the title deeds on paper. In the past few years the land registry agency here has been encouraging lenders to scan-in old documents and destroy the paper originals, so the only active indication of ownership is a record in a database. They call this 'dematerialisation'. I can only hope they have an excellent versioning and backup strategy.
- brianwawok 9y agoOh man can you imagine that DR scenario. "Umm, we lost all records of deeds for a city. Please resubmit your land claims to our office..."
- kasey_junk 9y agoChicago dealt with this. Its actually how the title service monopoly that exists there came into being. https://cmetro.ctic.com/pages/chicago-title-history.aspx https://cmetro.ctic.com/pages/chicago-title-history.aspx
- brianwawok 9y agoAlthough oddly enough when I moved out of Chicago.. my Indiana title search was not significantly cheaper. Still a big rip.