Palos Verdes Homeowners Ask “What is an Uninsured Deed”?
Palos Verdes homeowners need to be aware of the risk of an uninsured deed. Recently Ticor Title sent out a reminder to real estate agents regarding why this could be of concern. The most common problem of an Uninsured Deed comes in the form of a Quictclaim deed between family members. When a person gets added to title, this is a window of opportunity for those against him/her to attach to the property.
When you are selling your property, it is always best to use a realtor. They will use a title company to make sure that a recorded Uninsured Deed will be shown on the Preliminary Title Report, which is for the protection of the homeowner to make sure the deed was not signed fraudulently or under duress which was the intention of the grantor to transfer title.
A realtor would know how to spot this kind of activity on a property profile. If they find that there is no title order number, escrow number, or even an accomodation stamp they will immediately notify the client. Without having this set of extra eyes, a homeowner may find themselves in need of an attorney to help settle their property issues.