What Is An Uninsured Deed? Should You Be Concerned?

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Uninsured Deed

By Jason Boone

BEND – What is an uninsured deed?

The answer is simple.

An uninsured deed is a deed that has not been examined by the title company.

Before the deed has been recorded, it must be examined by a title company and the title company will do a complete background search of recorded liens or disputes that have been filed on the property.

The title company’s goal is to make sure that the current owner of the home can transfer ownership of the home to the new owner without encountering any unforeseen circumstances.

Breaking Down Uninsured Deeds

In the real estate world sometimes uninsured deeds are used for adding or subtracting family members from title deed and one of the most common title deeds is a quick claim deed.

Before utilizing the quitclaim or any other type of uninsured deed the title company will most commonly ask these simple questions:

1. Can all signatures of signers on the uninsured deed be verified?
2. What is the purpose behind the uninsured deed? Was the goal to secure a loan?
3. Was the deed signed under stress or duress?
4. Did the signer of the deed sign it to avoid problems with creditors?
5. What type of consideration was given for the uninsured deed? Was it a gift?

Simple Preparation Pays Off

When it comes to using the title company to record deeds, simple preparation always pays off and can help to protect the homeowner from any problems that may arise because of the deed.

Some of the simple things that a home buyer can do to make sure that all business concerning their deed is handled professional include the following:

• Always use a qualified title company to work on a deed.
• Make sure that the date the deed was signed is verified and confirmed because, if the date is wrong, this can make a big difference when it comes to the future sale of the property.
• Never attempt to handle any business involving a deed yourself, it’s always best to leave all business involving deeds to the title company because, this could eliminate any future headaches and save you time and money when it comes to selling the home in the future.

For all of your Real Estate needs contact me, Jason Boone, Principal Broker at Duke Warner Realty | Skjersaa Group by calling me at (541) 383-1426 or emailing me at Jason@sgbend.com

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