Closing costs for deeded timeshares in Florida, Georgia, South Carolina, and Alabama

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

When I compare my experiences with me vs. my experience with (all but one) timeshare closing companies, I'll go with me.

If I need to know something about a local deed, or any other recorded document, such as the timeshare I am talking about, I go to the Recorder and look at em myself.

The Branson-area deeds to me/us were, in fact, prepared by an Orlando closing company, but I certainly wouldn't have them close sales I might make to others, which I have.



The answer I was searching for, & found, I think, by googling, is whether title insurance covers errors made by the closing company.

What'ya think?

[Dave H Member Find all posts View Profile Close Dave H]

When I compare my experiences with me vs. my experience with (all but one) timeshare closing companies, I'll go with me.

If I need to know something about a local deed, or any other recorded document, such as the timeshare I am talking about, I go to the Recorder and look at em myself.

The Branson-area deeds to me/us were, in fact, prepared by an Orlando closing company, but I certainly wouldn't have them close sales I might make to others, which I have.



The answer I was searching for, & found, I think, by googling, is whether title insurance covers errors made by the closing company.

What'ya think?

Again, it depends on what the problem is in the back chain of deeds. Title insurance is know to do undertaking to correct deeds, we see it all the time.

The question is give me your "defect". Otherwise, you can't get an accurate answer. It's like me saying the sky is.... and not finishing it and then asking you if I am right or wrong...

As far as title searches, remember title searches dont just look a the last deed and pull a legal description. While in your example that works, a real title search also looks at judgments against the owners or someone with a same name amongst other things.

Of course I have seen the title companies that Carolinian has talked about. The best I have seen is someone who owned a timeshare with someone else not as joint tenants and the closing company put right on the face of the deed that john doe died intestate leaving the title to jane doe by operation of law....

Does that pass your sniff test as a good deed?

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

OK, let me just say it.

When I google it, the answer I got is that title insurance does not cover errors made by the closing company.

Of course, it's only an issue if you want it to be.

If you're not buying or selling anything, it's not an issue.

[Dave H Member Find all posts View Profile Close Dave H]

OK, let me just say it.

When I google it, the answer I got is that title insurance does not cover errors made by the closing company.

Of course, it's only an issue if you want it to be.

If you're not buying or selling anything, it's not an issue.

Not 100% correct. If the seller had a title policy, as a title agent, I can go back to that carrier and ask for a letter of undertaking and mutual indemnification. They will go back and fix the deed. They will quiet title if they have to to perfect title.

Now, if the seller bought it with no title insurance, there is nothing to go back on. If what you are saying is that I prepare a deed, botch up the legal and will not correct for you. Then 100% yes, you can go back on your title policy.

I have done it several times in real estate closings. Mistakes happen, if I insured you that you had week 9 unit 1 and the legal was wrong, you have a claim on title.

Will they give you money, no, they will try to fix it first. If it is fixable, it is done, if it is not then it is a total failure of title and they pay out WHAT YOUR POLICY limit is. They will not give you something more than you paid out of your pocket.

Insurance is not designed to be a profit center for the policy holder, it is to protect them for what they paid. So if the policy is for $1000, you get no more than $1000. ?If the developer is selling still for $25,000 and you only paid $1000, that is what you get.

Course, that is how it works in the 22 states I hold title licenses in.


Some other protections that title insurance affords you are:





Inaccurate or inadequate legal descriptions; Deeds executed by minors; Missing spouses or heirs; Deeds or Wills signed by persons lacking legal capacity, or incompetent; Deeds and mortgages by foreigners who may lack legal capacity to hold title; Issues concerning the rightful conveyance by corporate entities (dissolved corporations); Deeds and wills signed under duress;

Documents executed under false, revoked or expired power of attorney; False affidavits of death or heirship; Intestate estates; Probate matters; Deeds by persons falsely representing their current marital status; Improper modification of documents; Rights of divorced parties; Real estate homestead exceptions; Adverse possession; Interests arising by deeds of fictitious parties; Lack of jurisdiction or competency of persons in judicial proceedings; Utility easements and set backs and mineral rights; Gap in chain of title; Mistakes and omissions resulting in improper abstracting; Defective acknowledgements due to improper or expired notarization; Failure to include necessary parties to certain judicial proceedings; Undisclosed heirs; Improperly recorded legal documents.