Showing posts from August 2, 2009

Title insurance is a wise choice with troubled builder

Q. My husband and I are buying a repossessed, foreclosed house from a bank. It is a new house, and we know for a fact that many of the people who worked on it or supplied vinyl, etc., have not been paid by the builder and no one knows where he is now.

We are closing on the house this week, paying all cash.

The man who put a very expensive retaining wall on the property told us he was coming after whoever buys the property. We have been assured by our Realtor that he can't do that and the bank is giving us "clear title." Somehow that just doesn't convince me. We don't understand one paragraph in the contract that states what we will be responsible for. Is it true we cannot be held responsible, and should we buy title insurance?

A. You may not have anything to worry about, but still.

I'm sure your real estate agent is good at what he or she does, but that's not where you should look for legal information. Is the agent ready to back that up with a written promis…

L and E announces new title insurance provider

London & European has signed a deal with Hannover Re subsidiary Inter Hannover for the firm to be the exclusive provider of L&E’s title insurance.

Inter Hannover will underwrite L&E’s title insurance business as part of a four-year rolling contract.

Nick Parr, managing director of Inter Hannover, says: “Our strategy is always to look for lines of business outside the mainstream where we feel there is a market opportunity, and title insurance fits perfectly.

“In L&E we have a partner which is an established authority in the field and has a solid book of existing clients as well as a healthy appetite to grow profitably.

“We look forward to a long and fruitful relationship with them.”

Christopher Taylor, chief executive of L&E, says: “Inter Hannover is an entrepreneurial business which has the ability to spot an opportunity in a specialist sector and the vision to realise its potential.

“It’s no secret that the property market is depressed at the moment, but title insurance…