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No trespassing: Hunter keeps property boundaries in his sights
GJSentinel.com ^ | 2/22/12 | Dave Buchanan

Posted on 02/23/2012 12:31:05 PM PST by GSWarrior

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To: JimRed
Unless you're getting a complete steal, never close title without a new survey or an update of a recent one. Safe vs. sorry.
Make sure to get title insurance as well -- that saved us a LOT of money.

We went through three title searches and at least two surveys in five or six years and the last was a "charlie foxtrot" if you know what I mean. After a building loan (title search number 1) which rolled over into a mortgage (title search number 2) we were still fine.

Then, after a few years or so of falling interest rates, we hit the point where it was cost-effective to get a new mortgage despite points and so on. That required title search number three and the stuff hit the fan. Seems the records said the land our house was on should be on the WEST side of the road but it was actually on the EAST side of the road. Oops.

The land had been in the Ripley family since the area had been settled and first sold out of the family in the 1960's I think it was. Several owners' lawyers before us as well as our own had missed the fact that there WAS a road to the east of the land which was abandoned in 1864. It cost to survey and research the title all over again, but insurance covered that. Lucky for us.
21 posted on 02/24/2012 3:12:53 AM PST by Peet (Cogito ergo dubito.)
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