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Purchase Title Insurance

It has been a year since I last wrote about renovating a house in Versailles.  It was very hard work, but very rewarding.  The last weeks of renovation were a rush of preparing the yard for seeding, landscaping and adding the finishing touches inside the house before the real estate photos were taken.

The house was listed the first of October 2016 and we had a contract on the house November 3rd.  Closing was scheduled for December 5th.  On Friday, December 2nd, late in the afternoon, my husband received a phone call from our realtor.  She was informed the Title Search found there was a missing document in the closing paperwork when the house had passed from the original owner of the house to owner’s daughter.  It seems the owner’s second husband should have signed a Dower Interest form before the house was passed along to the daughter.

Thankfully my husband had purchased Title Insurance when he bought this vacant property.  It took 3 ½ months for the Title Insurance company’s attorney to track down the husband of the late property owner.  He was originally from Chicago and had a very common name – you can imagine searching for a needle in a haystack!  After about 6 weeks the attorney called to say they found the husband, living again in Lexington.  Legal work began to contact this person – ask him to sign the document that should have been signed years before – get the document through the court system.

I am happy to report the closing occurred on Friday, March 17, 2017.  I don’t know how many attorney billable hours went into getting this one piece of paper signed, but am sure the cost would have been more than the $500 paid for the Title Insurance.