[quote=FlyerInHi][quote=gzz]Title issues are rare and title insurance is very profitable. I would not have purchased it myself based on these issues. their claims rate is very very very law.
to be safe, can you get the old title report from the seller to look for potential issues?[/quote]
Thanks for the feedback.
I think that I need to educate myself on title issues if I’m going to be a serious real estate investor. Sometimes, you chance upon properties where people have money issues and title is not squeaky clean. I suppose, that’s one way investors find good deals.[/quote]In my experience, 25-30% of BK debtors “forget” to list all their assets and debts (either by mistake or on purpose). Only a fraction of them have BK attorneys. A good portion of them routinely transfer over title to large boats, RV’s and any vehicles they don’t regularly use (essentially any asset they own with a public title, sometimes including real estate) to family members who will NOT be on the BK case with them almost immediately prior to filing their BK. It’s by design and the trustees have so many cases to handle that it works … except if one of the savvy creditors on the debtor’s “discharge list” has already done an asset search prior to the debtor’s title transfer(s) and has not yet been able to seize it (it was stored, hidden). Happens all the time.
