Title Insurance Horror Story - Read This Investors!
You need to understand title policies as title insurance as it is a SCAM! They are a tricky bunch of corporate scumbags and and if your buying real estate not understanding how policies work could leave you in a civil lawsuit for several years like me. We paid $12K for a title policy buying 400 acres of land that ensured our right of access to a public road. We had legal easements to go through another's property to reach ours, these landowners disputed our legal access. We filed a simple claim with our title company and you guessed it, they denied the claim stating they did not ensure any specific right of access. We said what in the hell is that mean? We had to hire an expensive attorney to sue them for bad faith denial and we won a duty to defend ruling against them! Then they dragged their feet on litigation against the interfering landowners of our access for the past 5-years. The title company which made $7B last year has an army of high-end attorneys who by design drag the case on and on until insureds like us get so damn tired, fatigued or go broke fighting them with our attorneys and fees you just want to give up. Then after 5 long years of getting nothing accomplished, wrote us a letter saying they cured the defect and they are done! That was after we sent them our engineer report that proved their cure failed. The case in court presses on and hopefully in 2027 we will get to a jury trial to expose these corrupt thieves! I have been Realtor and in real-estate since 2005 and I will say this to all who read this you may think a title policy ensures your rights well they do but when these billion dollar companies deny your claim and force you to litigate against them its a sobering expensive horrible nightmare. You think purchase insurance and your all set and covered...think again..Our attorneys keep saying we will win in the end and I keep wondering if we can afford to get to the end..ugh :(