Saturday, September 20, 2008

they don't own the land.....didn't buy title insurance...tsk tsk tsk

How do you know your home and the land it sits on belongs to you? One Oklahoma couple was shocked when they tried to sell their home and found they didn't own the land it's built on.

Dennis and Teresa Fine raised three children in their home near Peggs. After 27 years, when they tried to sell their one and only home, they found out the land it's on belongs to the state.

"It was definitely a shock," Dennis says. "We've lived here for nearly 27 years and bought it from the U.S. government. So, I didn't think there would be a problem with the title."

Their modest home has three bedrooms and two baths and sits on just over an acre of land. They have re-financed the home several times and are the third family to own it. They can't understand how the land ownership problem wasn't discovered before.

"Not until this time, not until we tried to sell it."


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