Groups are smaller communities within the larger ActiveRain. Join groups created by others. or start your own and
get others to join
This is the place to view the past and present contests put on by ActiveRain and its members. Everyone can join the
group and help encourage each other. Current contest will be highlighted posts so it's easy for you all to see. Let it
Curious as to what others in your profession think about a certain product or tool?
AR's community takes the time to leave honest and transparent reviews of their experiences
so you can be a bit wiser about your purchase.
Broken down by categories and subcategories for easy finds
Get an unfiltered look at what real users are saying
Leave a review yourself for others to benefit from
Add new products as you use them and gain points for doing so
ActiveRain University (ARU) provides free on-line training. We coach, consult and support real estate professionals about real estate trends, technology and social media.
ARU Calendar provides class types and registration links
Watch short tutorials on updating your photo, inserting a hyperlink and much more
Sign up for the Daily Drop so you don't miss out on AR's daily happenings
Find answers to most FAQ's
Whatever it is you're into and wherever you are, AR surely has a group for you to join.
Brand, off the wall, specific subject matters…whatever it is you're looking for.
Each time you write a post you can syndicate your post to 5 groups.
And if by chance you don't find what you're looking for, start a new group today!
Get your content in front of more eyes
Search by location or type
Feel free to start your own group
Find some that are close to home and close to heart
Each month AR runs numerous contests as a way for our members to engage in activities
that will boost their business and increase their visibility in the community and beyond.
Earn points by partaking in these contest and climb the leaderboard
Do what's good for you and your business by participating
If you have an idea for a contest, just let us know
Stay motivated and on track with new contests popping up each month
Ask a Real Estate Question
Here's another avenue for you to build relationships with others. Share your expertise with someone searching for answers.
Play the teacher role and help someone out today
Your Homepage will alert you of new questions in your state
A wonderful way to open a door to a possible new client
Ask a question yourself to get help
These state pages or hyper-local pages provide content directly related to a specific geographical location.
State, County, City and Neighborhood pages make it easy for consumers to find what they're looking for.
Post your listings, school information, local events, market reports and more
Consumers peruse these pages for information
Farm your niche market and cover all the happenings in your neighborhood
I am a little confused about title insurance. Why should I buy title insurance if there has only been one previous owner? Further, doesn’t the settlement attorney check the title to the property?
Title insurance protects real estate purchasers and/or lenders from losses that arise after a real estate settlement, but result from unknown liens, encumbrances or other defects upon the title that existed prior to settlement. Examples of title defects include outstanding property taxes not paid by a previous owner, fraud or forgery of a prior deed or transfer, or a spouse or unknown heir who steps forward to make a claim against the title. If a claim were made, defending the claim could cost thousands of dollars in attorney fees and, if the claim were valid, could even cause you to lose the property itself.
A title insurance policy provides coverage for legal defense, as well as the coverage amount listed in the policy, which usually equals the purchase price of the real property.
Under Maryland law, the title company handling the settlement of property situated within the State is required to offer the purchaser title insurance. The title company is typically an agent of the title insurance company. There are two different types of title insurance, lender’s and owner’s. A lender’s title insurance policy, which is almost always mandatory, protects only the lender and terminates immediately when the loan is paid off.
The question is asked, “Why do I need owner’s title insurance if the attorney has examined the land records?” To satisfy this inquiry, you must first know what a title examination is. To begin an examination, the attorney who certifies the title will obtain an abstract of the title to the property in question from an independent title examiner at the courthouse land records office. An abstract is a history of the title for the last sixty years. It is a compilation of all pertinent instruments affecting the title of the property, as recorded among the various records of the county in which the property lies.
As you can see, the attorney’s examination is based on what he has discovered from this review of the abstract of the original land records. What if the records have been forged or a minor has attempted to convey his title? Unfortunately, no examination of the title, no matter how complete or how expertly accomplished, can protect a purchaser against hidden defects which are not a part of the records. Additionally, what if a claim is made against your ownership which is not valid? Without title insurance, you still must bear the cost of legal fees in defending the claim.
Some of the more common “hidden defects” of title insurance are further defined below:
Forgery: Forgery, often expertly done, when revealed, has clouded title to thousands of properties. It happens with alarming regularity and quite often involves the most unlikely people, which is why it is often undetected for a long time. An unlikely forger may be that nice person who is really a disgruntled spouse and forges the name of an estranged husband or wife on a deed. And, of course, the forgery may have occurred a long time ago, involving people you did not know existed. A forged deed conveys no valid title to your home.
The Missing Spouse: Many people have innocently bought homes from a man or woman they thought was “single,” only to have an estranged, separated, or missing spouse later reappear to claim his or her ownership rights in your home.
The Minor or Mental Incompetent: A deed from a minor or mental incompetent will cloud the title to your home, although this could not be detected from a title examination.
Missing Heirs: Missing heirs and vague or incorrectly drawn wills are a fruitful source of headaches for innocent homebuyers. A person thought to have no living relatives may die and have their property sold in a seemingly legal manner, only to have a long-lost relative turn up years later to claim a whole or part interest in the home.
Similarity of Names: Let’s say you are buying a house from someone named Johnson. There are thousands of Johnsons in your community, many with identical first names or initials; and when there are judgments, liens, or divorces involving dozens of people by the same name, the title search is no easy matter. To make it still harder, members of the same family may spell their names differently or one may use several spellings in his lifetime. A wife and husband may divorce and the husband may marry another woman with the same first name as the first spouse. The second wife’s signature might then appear to dispose of the first wife’s legal rights, although, of course, it could not do so. Two members of the same family often have the same name, as in the case of father and son, and title may be held by one, while the Deedis executed by the other who has no ownership interest.
Improper Deeds: A deed may have been delivered without consent of the owner or after the owner’s death. A document may have been executed under an expired or improperly drafted power of attorney. The name of the grantee may have been inserted in the deed after its delivery. The officer of a corporation may not have been properly empowered to act. In any case, the action may result in loss of title.
The only way for purchasers to protect their investment is to purchase owner’s title insurance. The owner’s title policy will guarantee that the title is free from defects and from any lien or encumbrance thereon, unless specifically set forth in the policy as an exclusion. Of course, it also insures against the possibility of human error in either the abstracting or examination of the title.
As a rule, a title company will no more insure a bad title than a fire insurance company will issue a policy on a burning building. However, title companies frequently are able to insure against technical objections that might be made, thus enabling titles to be transferred much more easily than might otherwise be the case
Source: Information provided by our friends at Village Settlements, Inc
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.