"In one way or another, we believe that the title insurance
companies will fix the problem," Davis said. "Title insurance is
bought because it is conceivable that mistakes were made on the title
search."
Nielsen said the title company that
worked for William Ryan Homes on the sale was aware of the Maple Lawn mortgage,
"but it (the title company) had the understanding that the mortgage would
be released from those lots."
I read this story with
interest and wondered why the attorney or title insurance agent didn't control
the release.
Maybe they trusted someone to clear the title. I like to use the Ronald Reagan approach, "Trust, but verify."
So, if you heard us ask for a copy of the signed release and a letter from the lender approving the release for consideration and promising to record upon receipt, then you'll know that we DID trust but we didn't forget to VERIFY.
Maybe they trusted someone to clear the title. I like to use the Ronald Reagan approach, "Trust, but verify."
So, if you heard us ask for a copy of the signed release and a letter from the lender approving the release for consideration and promising to record upon receipt, then you'll know that we DID trust but we didn't forget to VERIFY.
