Saturday, March 22, 2014
March 21 - Online Discussion Question 3
Andrew and Olivia have the cash to buy the home of their dreams. The widow who owned it died without a will or probate, but her nieces are going to sign the deed. A babbling brook winds through the back yard. There are overhead power lines, sewer construction nearby, and the neighbors have been letting the widow share their drive. At the closing, Andrew and Olivia are asked to waive title insurance requirement so the nieces won’t have to pay the premium. Is that the right thing to do?
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no, because if the title isn't right then andrew and olivia may end up with a big bill later on.
ReplyDeletetravis
Not at all, there seem to be many circumstances that could become major problems and title insurance is very important in this scenario.
ReplyDeleteNo! If they don't buy the title insurance it could cost them a lot later on.
ReplyDeleteNope. There will be problems later if they do.
ReplyDeleteAutumn
No, because then Andrew & Olivia might have to take the responsibility with other problems.
ReplyDeleteNo.
ReplyDeleteNo!!! If they don't buy the title insurance, it may cost them a lot later on.
ReplyDeleteNo. They need the title insurance.
ReplyDeleteeyezik
no, title insurance is important to have.
ReplyDeleteNo they should get title insurance, This will protect them from any heirs popping up and wanting the house.
ReplyDeleteAdam
NOOOOOO!!!!!!
ReplyDeleteTo waive the title insurance might seem like a compassionate thing to do, but it is actually pretty stupid. The widow did not have a will, so other relatives of the lady could debate the validity of the sale of her home. Having title insurance will protect Andrew and Olivia from any monetary damage that such a situation could do to them.
ReplyDelete