Does anyone have any direct experience using the company Tax Title Services (https://www.taxtitleservices.com/) to get title insurance on a tax deed property?
They say they operate in Georgia, but I just spoke with underwriting counsel over at Stewart Title-Georgia. He confirmed that for Stewart's position is that there must be either a quiet title action or a quitclaim from the prior owner (the delinquent taxpayer.) That's weird because Stewart's virtual underwriter website provides a Georgia form “foreclosure due process endorsement” when certified by Tax Title Services.
There are a few posts already about Tax Title Services, but has anyone actually used them?
I used them on a property and the work they did was acceptable. However, I will not use them again and here's why.
One of the things they didn't tell me until after the work was done was that the title insurance isn't like normal owner's title insurance where the premium is paid once and effective until the property is transferred. The kind of title policy that they issue expires in 6 months and if you want an extension then the work has to be re-done for more $$$.
The other issue is that most closing attorneys just don't seem to be familiar with this area of the law and have reservations about whether the title is actually good. There's also a question when the new owner tries to get title insurance; will they be able to get a normal owner's title policy or will theirs expire in 6 months too? All those flags are just deal killers. If the buyer's attorney has reservations about title, the buyer will back out and you've wasted your time and money.
I tried to save a little money with them and wound up filing a quiet title action any ways. I found an attorney who would file for me at a reasonable cost and now I have a judgement from a superior court judge declaring me the owner against all claims. For the next one, I will just file quiet title and be done.
Yes, I do.
In fact, I've been on both sides, having intentionally allowed a property with soil defects go to tax sale in order to collect the surplus overbid funds (made $125,000 net profit on that play).
Tax Title Service is in the risk business. As a surety, they accept a certain level of risk that meets their criteria and, for a fee, shortens the time it would otherwise tax to establish marketable title.
They're not cheap and the service they provide not complicated. I've met the Founder/ CEO and very familiar with the title company that underwrites their policies.
I just used them on a property in Texas. Super expensive to which I thought there was no alternative. Also the title company in Texas they designated charged me about double what I normally pay for escrow fee and gave much worse service than what I expect from my normal title companies. In the end the job is done. However now asking many title friends, they say if the redemption period is finished, they can do regular sale and transfer. So we'll see if that works for the future.
I used them on a property and the work they did was acceptable. However, I will not use them again and here's why.
One of the things they didn't tell me until after the work was done was that the title insurance isn't like normal owner's title insurance where the premium is paid once and effective until the property is transferred. The kind of title policy that they issue expires in 6 months and if you want an extension then the work has to be re-done for more $$$.
The other issue is that most closing attorneys just don't seem to be familiar with this area of the law and have reservations about whether the title is actually good. There's also a question when the new owner tries to get title insurance; will they be able to get a normal owner's title policy or will theirs expire in 6 months too? All those flags are just deal killers. If the buyer's attorney has reservations about title, the buyer will back out and you've wasted your time and money.
I tried to save a little money with them and wound up filing a quiet title action any ways. I found an attorney who would file for me at a reasonable cost and now I have a judgement from a superior court judge declaring me the owner against all claims. For the next one, I will just file quiet title and be done.
I used them on a property and the work they did was acceptable. However, I will not use them again and here's why.
One of the things they didn't tell me until after the work was done was that the title insurance isn't like normal owner's title insurance where the premium is paid once and effective until the property is transferred. The kind of title policy that they issue expires in 6 months and if you want an extension then the work has to be re-done for more $$$.
The other issue is that most closing attorneys just don't seem to be familiar with this area of the law and have reservations about whether the title is actually good. There's also a question when the new owner tries to get title insurance; will they be able to get a normal owner's title policy or will theirs expire in 6 months too? All those flags are just deal killers. If the buyer's attorney has reservations about title, the buyer will back out and you've wasted your time and money.
I tried to save a little money with them and wound up filing a quiet title action any ways. I found an attorney who would file for me at a reasonable cost and now I have a judgement from a superior court judge declaring me the owner against all claims. For the next one, I will just file quiet title and be done.
I used them on a property and the work they did was acceptable. However, I will not use them again and here's why.
One of the things they didn't tell me until after the work was done was that the title insurance isn't like normal owner's title insurance where the premium is paid once and effective until the property is transferred. The kind of title policy that they issue expires in 6 months and if you want an extension then the work has to be re-done for more $$$.
The other issue is that most closing attorneys just don't seem to be familiar with this area of the law and have reservations about whether the title is actually good. There's also a question when the new owner tries to get title insurance; will they be able to get a normal owner's title policy or will theirs expire in 6 months too? All those flags are just deal killers. If the buyer's attorney has reservations about title, the buyer will back out and you've wasted your time and money.
I tried to save a little money with them and wound up filing a quiet title action any ways. I found an attorney who would file for me at a reasonable cost and now I have a judgement from a superior court judge declaring me the owner against all claims. For the next one, I will just file quiet title and be done.
I used them on a property and the work they did was acceptable. However, I will not use them again and here's why.
One of the things they didn't tell me until after the work was done was that the title insurance isn't like normal owner's title insurance where the premium is paid once and effective until the property is transferred. The kind of title policy that they issue expires in 6 months and if you want an extension then the work has to be re-done for more $$$.
The other issue is that most closing attorneys just don't seem to be familiar with this area of the law and have reservations about whether the title is actually good. There's also a question when the new owner tries to get title insurance; will they be able to get a normal owner's title policy or will theirs expire in 6 months too? All those flags are just deal killers. If the buyer's attorney has reservations about title, the buyer will back out and you've wasted your time and money.
I tried to save a little money with them and wound up filing a quiet title action any ways. I found an attorney who would file for me at a reasonable cost and now I have a judgement from a superior court judge declaring me the owner against all claims. For the next one, I will just file quiet title and be done.
I had a feeling it was too good to be true. I'm putting together a group of investors specifically for tax deed purchases, and I was hoping I could present a reliable alternative to quieting title where we could control for cost and time frame.
Why isn't some clever capitalist coming up with a solution for this market gap!
Unless the legislature addresses the fact that the law is vague on tax deeds, then the answer will always be quiet title when the tax deed is defeasible.
Used them once, ended up having to do a quiet title action anyway, wasted money, and won't use them again. Deal lost.
Who did you use for an attorney for Quiet Title in GA? I'm having a hard time finding one that is experienced.