Yes and No Tips for Real Estate- Title Related Events!

1. Yes-If you create a recordable document like a Quitclaim, Warranty, Grant or Trust Deed, for example, Record it!

2. No-Don't add a minor to the deed to your property (though, it is usually legal to do so). They can't legally sign documents and you might find yourself in the unpleasant position, of having them needing a guardian (not you) to look out for their interests, should you try to sell, refinance or otherwise encumber the property!

3. Yes-Do take photos with your smartphone/tablet of at least the first pages, of any recorded documents to your property. The document number and date of recording might be very useful when trying to locate copies.

4. No-Don't think that transferring the title to your property to someone else, will make any liens, judgments, foreclosures or trust deeds disappear!

5. Yes-Consider using a trust to pass real estate on to heirs. You can be very specific about what happens to the property and when.

6. No-Don't assume that the title insurance policy you received when you bought the property, is still valid if it was issued years ago. Make sure the company and/or the underwriter is still in business. This is not as much of a possible issue, if you used a direct large title insurer, such as Chicago, Fidelity, First American etc. (Note; the title company that insured your real estate, should be on the front page of your deed).

7. Yes-Do check on the financial strength of the title company you will be using for your purchase. Remember, that there are title companies (agents really-that will probably not be the ones to pay your possible claim-rather whomever underwrites them) and title insurance companies (they are the direct insurers, who are responsible for paying valid claims).

8. No-Carefully consider what could happen if you add someone (even an adult), to the title to your real estate. If they have suits, judgments or liens, these will most likely attach to your property, making a sale or refinance difficult. A title company can check this for you!

9. Yes-See if your state/county/town, has any senior, disabled or veterans benefits for property taxes, transfer taxes, handicapped improvement non-reassessment or property tax transfers!

10. Yes-Consider asking for a Binder or Reissue Rate acknowledgement, if you might resell the property in a few years.