Do you consider a title policy a public record?

[Tim Hicks (Texas)]

I ask this because I had a SAR ask me the change the owner of public record. Their title policy had a very long owner name "Xxxxx Xxxxxxx Xxxxxx, indepdendent executor of the estate of Xxxx Xxxx Xxxxxx, deceased per title.

They wanted me to put that on the owner of public record line. It does fit first of all. Second of all, the sales contract stated the owner name was Xxxx X Xxxxxx and the tax records indicated the owner of record as Xxxx X Xxxxxx, so that is what I had on the appraisal report for owner of public record.

Then I asked MSN copilot:


Copilot Answer



Not public records
https://www.bing.com/ck/a?!&&p=c6b3...jeSBjb25zaWRlcmVkIGEgcHVibGljIHJlY29yZA&ntb=1
Title insurance policies are not public records. They are a one-time premium paid at closing to provide protection to property owners and their heirs for as long as they own the property. The title insurance policy is based on an examination of public records to determine and confirm legal ownership and to ensure that no defects or conflicts could negatively affect the homeowner in the future. However, the details of individual title insurance policies are not publicly accessible.
https://www.bing.com/ck/a?!&&p=018a...yY2VzL3doYXQtaXMtdGl0bGUtaW5zdXJhbmNlLw&ntb=1
Am I just being my usual jerk appraiser by telling them that what I have as the owner of public record is correct. I told them I would gladly change it when they had the sales contract changed and the tax records changed.

 

[TerryRohrer]

Title opinions are not public records. I would stick to the content of the actual public record. I have seen enough errors in title policies (legal descriptions, owner, etc) that I treat them as unverifiable drivel.

 

[swandel1]

I ask this because I had a SAR ask me the change the owner of public record. Their title policy had a very long owner name "Xxxxx Xxxxxxx Xxxxxx, indepdendent executor of the estate of Xxxx Xxxx Xxxxxx, deceased per title.

They wanted me to put that on the owner of public record line. It does fit first of all. Second of all, the sales contract stated the owner name was Xxxx X Xxxxxx and the tax records indicated the owner of record as Xxxx X Xxxxxx, so that is what I had on the appraisal report for owner of public record.

Then I asked MSN copilot:


Copilot Answer



Not public records
https://www.bing.com/ck/a?!&&p=c6b3...jeSBjb25zaWRlcmVkIGEgcHVibGljIHJlY29yZA&ntb=1
Title insurance policies are not public records. They are a one-time premium paid at closing to provide protection to property owners and their heirs for as long as they own the property. The title insurance policy is based on an examination of public records to determine and confirm legal ownership and to ensure that no defects or conflicts could negatively affect the homeowner in the future. However, the details of individual title insurance policies are not publicly accessible.
https://www.bing.com/ck/a?!&&p=018a...yY2VzL3doYXQtaXMtdGl0bGUtaW5zdXJhbmNlLw&ntb=1
Am I just being my usual jerk appraiser by telling them that what I have as the owner of public record is correct. I told them I would gladly change it when they had the sales contract changed and the tax records changed.

Owner of record is what is on file at the Recorders Offce. Any Ownership change is not offcial until it is recorded. It gets a little tricky when a title holder passes away, but I would just state who is on title at the recorders office. Remember the owner of record is per the effective date of the appraisal - not 2 days, 2 weeks or 2 months later.

 

[Mark K]

If Joe Smith was the owner and died, the current owner (not recorded) is The Estate of Joe Smith. The Executor of the Estate is not the owner of the estate.

I always put in as owner: The Estate of Joe Smith. The purchase agreement was probably signed by "John Jones as Executor of the Estate of Joe Smith".

I've been thru this three times in the past two years as executor or personal representative of deceased relatives.

 

[sputnam]

A title policy is not public record. However, it is evidence that the public record may have been changed recently. I know many appraisers only check the tax record.. but the ownership of the property is recorded by and maintained by the Register of Deeds (or whatever that office is called in your state). The tax records often lag.

 

[KHS445]

Most likely the title company is in possession of all the documents to show the current ownership, the estate, as well as who is authorized to dispose of the real estate. The documents will be recorded along with the deed and any other necessary documents once the deal is closed.

Until the authorizing documents are recorded ownership is unchanged. If the client wants changes made ask that they provide you with copies of all the authorizing documents along with a copy of the title commitment which should clearly state what documents are necessary to complete the sale of the property. Then state in your comments that according to the recorded documents so and so is the owner, but based on information provided to you so and so has passed and X has been named executor of the estate and is authorized to sell the property on behalf of the estate.

In addition to the title commitment they should provide you with a copy of the death certificate and the authorizing documentation, which any be copies of a trust agreement, deed, probate papers, etc. Your job is to report the owner of record and that is what you have done..if they want the ownership changed tell them to record all the documents and once you can verify the recordings you will make the changes and then be sure that you report everything in the subject sale and transfer section of the report.

 

[Tim Hicks (Texas)]

A title policy is not public record. However, it is evidence that the public record may have been changed recently. I know many appraisers only check the tax record.. but the ownership of the property is recorded by and maintained by the Register of Deeds (or whatever that office is called in your state). The tax records often lag.

True, but you would think the sales contract would have this information. I had no idea the owner was deceased. So, I always confirm the owner of record with the sales contract and the online county tax records, not Realist.

 

[Terrel L. Shields]

online county tax record

I work disclosure states but if it is recorded in the courthouse, I've sourced the correct name. Contracts are not recorded. Title opinions and abstracts (if anyone is still using those) are not recorded. The 'owner of record' is not unrecorded in the courthouse. And the assessor field card might not be the latest source of what is or isn't the "owner of record". It might not be updated.

 

[alebrewer]

I've never been a stickler - for much of anything - besides the irrelevance of the CA. In light of that, its never bothered me a bit to change the OOR in the report, so long as I retain the ability to explain what change was made, why I made it, why I agree (or disagree) with the request, and any documentation that might be relevant to that issue.

 

[jay trotta]

I ask this because I had a SAR ask me the change the owner of public record. Their title policy had a very long owner name "Xxxxx Xxxxxxx Xxxxxx, indepdendent executor of the estate of Xxxx Xxxx Xxxxxx, deceased per title.

They wanted me to put that on the owner of public record line. It does fit first of all. Second of all, the sales contract stated the owner name was Xxxx X Xxxxxx and the tax records indicated the owner of record as Xxxx X Xxxxxx, so that is what I had on the appraisal report for owner of public record.

Then I asked MSN copilot:


Copilot Answer



Not public records
https://www.bing.com/ck/a?!&&p=c6b3...jeSBjb25zaWRlcmVkIGEgcHVibGljIHJlY29yZA&ntb=1
Title insurance policies are not public records. They are a one-time premium paid at closing to provide protection to property owners and their heirs for as long as they own the property. The title insurance policy is based on an examination of public records to determine and confirm legal ownership and to ensure that no defects or conflicts could negatively affect the homeowner in the future. However, the details of individual title insurance policies are not publicly accessible.
https://www.bing.com/ck/a?!&&p=018a...yY2VzL3doYXQtaXMtdGl0bGUtaW5zdXJhbmNlLw&ntb=1
Am I just being my usual jerk appraiser by telling them that what I have as the owner of public record is correct. I told them I would gladly change it when they had the sales contract changed and the tax records changed.

When I was doing my usual work, I would always include the Deed, which confirms the assessor records. Never cared what the Title Policy said, always went by public record, which is what the Title should read. One time in 30+ years had a UW request a change, copied the email request, put it in my addenda page for future record, along with the name of the requestor. Crickets