Dear Mr. Lawyer,
I know you are smart you did pass the law exam and I know you spent a lot of money on your degree but......you aren't an expert in the real estate field. I am writing this to you because of a recent experience with another criminal defense lawyer.
He wanted to protect his wife's friend from getting scammed. First he was worried about Warranty Title in Michigan. He had read somewhere that some title companies were going out of business. You see Warranty Title is one of the bigger title companies in Michigan. I think it is a subsidy of Trott & Trott attorneys which run one of the biggest property foreclosure legal business in Michigan. They do a much bigger business than my "smart attorney". They are a title machine. I bet they close over 50 properties a day just in their Detroit office. There waiting room is usually jammed full.
What my smart attorney didn'tt realize is that local title companies are just agencies of bigger title insurance companies. So even if the local company goes belly up the larger underwriting title insurance company makes good on the title policy and the defects. If the large title insurance company goes bankrupt then a lot of people would have issues. But...........
My client "smart attorney" had my client get another title policy from another title company that he knew of. So it cost my client more money just to "be safe" in the attorneys opinion.
So my first piece of advice to as a criminal defense lawyer is don't advise people or practice law in areas you are unsure of. Let a professional real estate attorney handle it.
Russ Ravary your Metro Detroit real estate specialist
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