Show HOME BUYER CLINIC BY THOMAS J. J HOLSTEIN PRESIDENT AMERICAN LAND TITLE ASSOCIATION Name Confusion Hazardous in a name Shakespeare Shakespeare Shakespeare Shake Shake- speare once wrote observing that that- calling a rose anything else would scarcely change its fra fra- fra- fra grance When it comes to your purchase of a ahome ahome ahome d home this w logic is best left in the Thomas J. J Holstein pages of litera litera- ture Which is a roundabout way of saying that its it's mighty important to firmly establish I the names of previous owners of property in a real estate deal Things like a man with financial troubles whose troubles whose moniker moniker moniker mon mon- iker is similar to that of the fellow from whom youre you're about to purchase a home- home make it essential for such names to be fied In this example not knowing whether the two men are the same person could prove costly t to you Difficulty of this kind is encouraged encouraged encouraged en en- when people sometimes sometimes sometimes some some- times choose to avoid affixing their correct names to deeds to documents related to a marriage marriage mar mar- or divorce and so on In addition individuals occasionally occasionally occasionally occasion occasion- ally prefer to use nicknames or similar names instead of their actual monikers A legal term idem sonans meaning that names sounding alike are considered alike emphasizes emphasizes emphasizes em em- the need for accurately accurate accurate- ly identifying those connected with real real property property about to be purchased Confusion on where such names are concerned could mean that you you the the home buyer buyer are are in for headaches headaches head head- aches and possible financial loss if a land title challenge develops Protective measures before I you complete your purchase are an excellent idea when your investment in a home is involved If public records show a tax lien against a J. J Nickles for instance instance and and you are interested in buying a home from a John Nichols you Nichols you want to take steps to make sure the financial problems of Mr Nickles dont don't adversely affect the security of your impending investment An excellent way to protect your interests against this and other types of possible land title defects is to order a thorough thorough thorough thor thor- ough search of separately located public records records before before your purchase is completed The search will reveal any potential problems such problems such as lawsuits or judgments and others that others that are a matter of record What hat about the possibility of ofa a claim developing through a hidden land title defect that even the most thorough search of public records wont won't reveal such as a claim by a previously previous previous- ly undisclosed spouse of the seller Your best answer here is isto isto isto to obtain financial protection through owners owner's title insurance ance again ance-again again before you complete complete complete com com- the purchase of a homeOwners homeOwners homeOwners home Owners Owner's title insurance coverage coverage coverage cover cover- age includes payment of claims and the cost of a legal defense against an attack on a title as insured Names may be taken lightly in Shakespeare but when the time comes for you to invest in ina a home youre you're much better off when a Smith is a Smith a aJohnson aJohnson aJohnson Johnson a Johnson and yes i 1 iRose Rose a Rose A title search and owners owner's title insurance will protect protect protect pro pro- you should the situation be to the contrary For free literature on what you need to to know in buying a ahome ahome ahome home write American Land Title Association 1828 L Street NW Washington DC D.C. |