 |
What is a
1031 Tax Deferred Exchange? |
 |
This is a a
simple, strategic method for selling one qualifying property and
the subsequent acquisition of another qualifying property within
a specific time frame. The entire transaction is
memorialized as an exchange and not a sale. |
| |
|
|
|
Who are
Your Underwriters? |
|
|
First American
Title Company and Chicago Title Insurance Company underwrite the
title insurance. Both are considered to be the top two
title insurance underwriters in the country. |
| |
|
|
|
Why Does
the Seller Need to Provide Title Insurance? |
|
|
Any prospective
buyer will need evidence that his investment in your property is
free of title defects. In fact, your contract of sale probably
requires it. The title insurance policy that you provide the
buyer is a guarantee that you are selling a clear title to your
real estate, unencumbered by any legal attachments that might
limit or jeopardize ownership. Your title insurance policy
carries special authority: it reassures your buyer that the
title has passed the most careful scrutiny. In addition, it can
help your deal close more quickly and easily. |
| |
|
|
|
Why Does
the Buyer Need Title Insurance? |
|
|
Without a title
insurance policy, you may not be fully protected against errors
in public records, hidden defects not disclosed by the public
records, or mistakes in examination of the title of your new
property. As a result, you may be held fully accountable for
any prior liens, judgments, or claims brought against your new
property. |
| |
|
|
|
What are
Some Other Things Title Insurance Protects? |
|
|
Title
Insurance protects you against such potential defects as; forged
deeds, mortgages, satisfactions or releases of mortgage or
liens, deeds executed under falsified power of attorney, deeds
signed by mistake, deeds apparently valid but actually delivered
after death of grantor or grantee or without consent of
grantor... and the list goes on! |
| |
|
|
|
What is the
Scariest Thing About Taking Title Orders? |
|
|
The scariest
thing is when someone says, "This property has been in my family
for years, and I know the title is clear." As a result,
the property may have been subdivided without proper permission,
deeded incorrectly, given easements over the middle of the
property, make roads any 'ole place.. it can be quite a mess and
needs to be thoroughly searched for a clear title. |
| |
|
|
|
Does Your
Company Get Involved in Community Activities? |
|
|
Most of our
closing agents are involved in civic activities with optimist
clubs, Lions Clubs, Rotary Clubs, Kiwanis Clubs, and the local
Chamber of Commerce. |
| |
|
|
|
Do You Have
Any Contacts on the Eastern Shore? |
|
|
Our
Vice-President, Judy Thompson, has 22-years experience in the
title industry, is a resident of Fairhope and active in the
Eastern Shore community. |
| |
|
