Go for title insurance or opinion?
Q: What do you think of title insurance versus title opinion? I own half of 200 acres of property with a house, and I am buying the other half with cash. I have an abstract of title that goes back to 1861. Is it a good idea to get title insurance, and what will that do for me? Or does title opinion make more sense? — askedith.com
A: A title opinion is just that: an attorney’s conclusion that it looks as if you’re getting good, uncontested ownership. That’s reassuring, but you could also use a guarantee. That would be a promise to make good any losses you might suffer if it later turns out that, for instance, an unknown heir turns up and claims the property. And that calls for title insurance.
Q: We are trying to pay off two timeshares we purchased. One is in Las Vegas, and the other is inFlorida. I would like to sell or somehow get rid of both. I have talked to many companies. I don’t think they are honest. Can you suggest somewhere you know we could turn to sell or some honest company to help us get out of the timeshares? I don’t know what else to do and we are financially struggling to find a solution. — J. G.
A:
Take a look at the Timeshare Users Group (www.tug2.net). And meanwhile — it sounds as if you already know this — don’t give anyone money in advance to sell your timeshares.
Q: My husband passed away, and I am preparing our large, old Victorian twofamily home (where I reside) to put it on the market. My children have helped clean out decades’ worth of accumulated belongings, and I have made a few necessary improvements/repairs.
I am almost ready to call my Realtor, but my tenants moved out, leaving an enormous amount of stuff in the apartment and garage. They have been promising to retrieve all of it, but only taken care of a fraction of it, and our agreed-upon (verbal and by text) deadline has passed.
What are my rights and obligations? Do I need to involve a lawyer? Unfortunately, we had no lease. I asked if they would please just clear out their things. It seemed like the least they could do. — askedith.com
A:
From a practical point of view, you could go on wasting time while you try getting the tenants to take their stuff. Or you could spend the money to have it all moved to a storage facility and then pay the rental charges. Or, after a certain period of time — state laws vary — you might even run a sale. Or you could call a nonprofit that will clean it out and take everything. But you shouldn’t do anything until you consult an attorney to find out what your rights are. How recently did those tenants leave? By state law, that may make a difference. Not having a written lease isn’t necessarily a drawback, by the way. It may even turn out to be helpful. It’s certainly time to act. If you don’t have a lawyer, call a local firm and ask to speak with the real estate specialist.