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Valued Contributor
Posts: 1,250
Registered: ‎04-08-2015
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When can I feel safe

At what point can you assume the title company has checked the PR , I did my own PR search months ago and did find one dismissed wih prejudice from 2007. Not sure who he OC was but the CA was Arrow, I never received any notices or communication, if so, I would have just paid it. I more worry becaus my ex hubby stole my identity and afraid something is out there I'm not aware of. That would be detrimental at this point. Since nothing but the dismissed case showed up on my own search last year I am hoping I am worrying for not!
Moderator
Posts: 10,705
Registered: ‎03-06-2010
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Re: When can I feel safe

Why don't you contact the title company and ask for the title commitment?  

 

They would run the search before issuing the commitment and if there were a judgment it would show in the exclusions part of the title commitment (Schedule B).

Valued Contributor
Posts: 1,250
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Re: When can I feel safe

I wonder at what point they do the commitment? I will call then tomorrow
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Re: When can I feel safe

They should have it by now.  Most title companies get right on it (the good one's anyway).  There is a paragraph in the contract that specifies the date by which the title co has to provide the commitment. 

Valued Contributor
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Registered: ‎04-08-2015
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Re: When can I feel safe

In my purchase contract?
Valued Contributor
Posts: 1,250
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Re: When can I feel safe

Surely then if they have it and there was bad news, Jim would know
Established Member
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Registered: ‎04-30-2014
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Re: When can I feel safe

[ Edited ]

Get an Owners Title Insurance Policy to cover anything that may have been missed in the title search.

 



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Re: When can I feel safe


Leeloo wrote:

Get an Owners Title Insurance Policy to cover anything that may have been missed in the title search.

 


This is true ^^^.  But SBrooks was worried about an old judgment popping up from her distant past.  Title co's run not only title searches for the property, but they look for judgments against buyers before the purchase.  This is done to protect the bank as the judgment can attach to the property and come in front of the banks loan.  If her title commitment came back with a judgment showing - the lender would normally pick it up prior to final approval. There is also a requirement for the title commitment to be provided to the buyer in advance of the closing by a certain date.

 

Here in my county title insurance is required, but I know that isn't the same everywhere so the link is appreciated. 

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Re: When can I feel safe


Sbrooks1 wrote:
In my purchase contract?

Yes, there is usually an entire paragraph or more devoted to title company or closing attorney requirements including the due date of the title commitment. 

Valued Contributor
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Re: When can I feel safe

I don't see that anywhere, only mention regarding title is act if sale

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