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My lender required me to do a title search on the house I bought from my brothers after my mom died. My parents paid for a title search when they bought the hou
by maxerickson 3y ago
My lender required me to do a title search on the house I bought from my brothers after my mom died. My parents paid for a title search when they bought the house. I wonder what happened in the meantime to require one for my loan.
It's a fraction of the interest I will pay on a relatively small loan, so I can't say I was real animated about it, but you are just asserting that there is a lot of risk in the average transaction.
- brianwawok 3y agoI don’t imagine title insurance pays out even 1% of fees taken in. Such a racket
- mindslight 3y ago> I wonder what happened in the meantime to require one for my loan. Likely the previous title policy (and now yours) specify that they only provide coverage as long as the policyholder themselves owns the property. Otherwise your lender could be mostly satisfied by a warranty deed from your mother ('s estate). That's the hook that makes it into a racket of perpetually leeching off every transaction rather than a one time expense to perform legitimate diligence.