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#242942 - 08/07/08 01:26 AM No Title Insurance?
evergreenscout Offline
Junior Member

Registered: 08/07/08
Posts: 8
Loc: TX
I am considering buying a small residential lot of undeveloped land and I was told that there is no title insurance available for the property for one year. What reason could there possibly be for this? Is it a legitimate condition for a property? I am new to this forum and appreciate any responses. Thanks.

Additionally,
the property was sold to the current seller at a tax sale with a Sheriff's Deed.

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#242953 - 08/07/08 06:02 AM Re: No Title Insurance? [Re: evergreenscout]
Bigtoe Offline
Veteran Member

Registered: 10/14/07
Posts: 593
Loc: Outer Banks
I would be careful buying something without title insurance. The tax sale might be the reason why the title insurance is not available.

Texas Agent will be along shortly and he will know the definitive answer.
_________________________
Your Outer Banks real estate agent. Visit Outer Banks Community Forum for all the latest OBX events.

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#242958 - 08/07/08 07:26 AM Re: No Title Insurance? [Re: Bigtoe]
Vermont Offline
Veteran Member

Registered: 04/12/08
Posts: 942
Loc: Glover, Vermont
I have some property that I bought at Tax Sale and the Title Insurance Companies will not write coverage for 6 years from the date of the Conveyance to me; or 7 years from the date of the Tax Sale. I have heard that this is typical.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#242996 - 08/07/08 11:14 AM Re: No Title Insurance? [Re: Vermont]
evergreenscout Offline
Junior Member

Registered: 08/07/08
Posts: 8
Loc: TX
Hello, thanks for the replies Bigtoe and Vermont007! I posted on another forum and learned that it may have something to do with the property being in a redemption state, in which case the previous owner who was foreclosed on has up to one year to come up with the owed funds to reclaim the property. The previous owner was the school district. Could this sale be a fraud scheme?

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#243002 - 08/07/08 11:33 AM Re: No Title Insurance? [Re: evergreenscout]
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 5336
Loc: georgia
I don't know about your situation. In our state we can do a suit to quiet title once we purchase and this eliminates alot of resale problems.

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