Title Insurance

Title Insurance does have value. We used to whine about the double bill on the mortgage. Both parties having to buy their own title insurance. Just in case there is a question about the title and someone comes back later saying they have a lien on the house, title insurance covers that equation.

Tom was given the example that could easily have happened in our own family. An executor of an estate takes advantage of her position and transfers title of a home into her own name then sells the home and keeps the proceeds, not distributing them amongst the other beneficiaries. The other beneficiaries have a right to put a lien on that sold house later, when they find out, even though it is no longer in the estate. Title insurance protects the new owners. We always wondered why both parties had to buy it.

Insurance has turned out to be our best investment we ever purchased. My Dad bought a whole life policy for me when I was a child. He was helping out a friend at the time new to insurance sales. I used the cash value on that policy to put a down payment on my first home. I always payed the policy back. It is a nice little nest egg I know is safe. It is a private bank, tax free unless I let the policy lapse and expire, then it is treated as income that year. I never let it lapse.

I used it when Tom was between jobs 6 years ago. It is waiting to be tapped this time if necessary. Tom has already received two very good offers for projects that fit with his future plans. He is quite pleased. He is researching his new company now. He came up with a name.
He want to figure out what kind of an LLC fits best.


He wants us in Longview by golf season. He was hoping spring break, but the two offers on the house we want were turned down. We haven't given up, but it has extended our time line. We have to find a compromise house now. We'll offer on houses, not asking for clear title and buy title insurance.

LLC's are kind of cool. They are like creating a new human being. They become their own living and growing and self funded entity. An LLC can borrow and loan. The puppeteer behind the company is protected from liability by the company. We just have to find the best kind to fit Tom's new career.

Other than the house process being as slow as molasses, and trying to squeeze in trips to Longview to house hunt, life is never dull at our house.