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Real_Estate_Title_Transfer_Tale
| Real Estate Title Transfer Tale
The story unfolds like this...
A married couple buys ten acres of land in another county where
they plan to retire when the time comes.
Two years later they divorce. Title to their ten acres remains
in both their names after the split.
Months later the wife checks county records and finds a deed
transferring the property from her name and her husband's name
to a buyer.
But wait...she never signed the deed. Her husband had forged
her signature and had a notary (who was a friend) notarize the
false signature.
Is the wife in a fix? Has she lost the property through the
action of her slimy ex-husband? Should she try to remarry the
ex? Should she tell her story on Oprah for 15-minutes of fame?
Should she have the old husband whacked?
Surprise! The wife still owns the property... at least she owns
half of it. A forged signature conveys nothing! Since the wife
did not sign the deed she did not release her interest in the
property.
What about Mr. Sneaky Husband? Well... he signed the deed
didn't he? He conveyed his interest in the property and that was
a legal transfer (probably).
The buyer of the land owns only the husband's interest... and
here's where it gets good...
The buyer was buying the whole property in good faith. He did
not know about the forged signature... so he has a claim under
the title insurance policy for the loss of the wife's interest
in the property!
Hurray!... Finally somebody gets something for all those title
insurance payments we make!
About the author:
Mark Walters is an investor-entrepreneur helping other investors
from his Web pages at http://www.Lease-Option-S
ub2.com
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