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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Does Title Insurance help? Posted by LA in LA on May 11, 2010 at 0:41 AM In Reply to: Re: Does Title Insurance help? posted by Mark H. on May 10, 2010 at 4:45 PM Your assumptions are incorrect. The trustee does not "insure" the title is clear. Bid at your peril...or....learn how to do your own title search. Ward can teach you in 8 hours. As I am unclear on how title insurance works, I am not sure who insures, for what purposes. : Start with the assumption that the deed of trust in foreclosure was bought at the foreclosure auction. : I assume that the trustee "insures" that the title is clear, and if an old lein pops up then it is the trustee's insurance that pays the lein to clear title. Presumably the insurance covers against the trustee being sued for a poor title search. : If the deed of trust states, in the body of the text, that it is a first deed of trust then I don't see how an "as is" clause at sale is going to help. : Also, someone suggested to me that if this happens we ought to run the title through the title company that orginally issued the 'insured' title. This may help? Follow Ups: Re: Does Title Insurance help? IE Brian 10:44 AM, 05/11/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Your assumptions are incorrect. The trustee does not "insure" the title is clear. Bid at your peril...or....learn how to do your own title search. Ward can teach you in 8 hours. : As I am unclear on how title insurance works, I am not sure who insures, for what purposes. : : Start with the assumption that the deed of trust in foreclosure was bought at the foreclosure auction. : : I assume that the trustee "insures" that the title is clear, and if an old lein pops up then it is the trustee's insurance that pays the lein to clear title. Presumably the insurance covers against the trustee being sued for a poor title search. : : If the deed of trust states, in the body of the text, that it is a first deed of trust then I don't see how an "as is" clause at sale is going to help. : : Also, someone suggested to me that if this happens we ought to run the title through the title company that orginally issued the 'insured' title. This may help? [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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