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by ipython
721 days ago
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I always thought of title insurance as a complete farce. However, I did end up with a scenario where title insurance paid out (to me) to the tune of several thousand dollars when I was sued by a neighbor. The neighbor accused me of infringing on her property. I, in turn, proved (enough to the title insurance company, anyway) that the neighbor had also infringed on my property, and had done so in an invisible way (underground) since before I purchased the property. Since that infringement was not disclosed to me when I closed on the property, the title insurance company agreed to compensate me for that infringement to save the expenses of litigation. At the end of the day, I ended up net positive to my own pocket as a result of their litigation. Unfortunately, a lot of lawyers made a lot of money in the process and everything (insurance, etc) ends up being more expensive as a result of crap like this. |
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