Most common problems from Uninsured Deed’s come from Quitclaim deeds between family members, especially husband and wife. When a person is added to title, it is a window of opportunity for matters against him/her to attach to the property.
Why Should it be of Concern to you when taking a listing?
- Is it a divorce situation?
- Was it signed in distress?
- Possible bankruptcy?
How can you spot an uninsured deed when you order a profile from Fidelity Title and look at the deed?
- Look for accommodation stamp.
- No title company or title company title order number.
- No escrow number showing on document.
- No document stamp showing under the fee section.
- Handwritten document.
- Time recorded is not 8:00 am in the morning.