NLIC.org

Eric Said:

How can I sell my house to my roommate? What is the cheapest route? What is the easiest?

We Answered:

You could go to Nolo Press and get all the forms you would need. Check with local laws to make sure. The title insurance would be for the buyer's protection, not yours. If a bank mortgage is not involved then you could do it yourself. Recording the deed and mortgage (assuming you are giving him a private one) is not difficult. I would actually consult a local real estate lawyer and most likely negotiate a low cost handling of the transaction to make sure you get it done right. Nothing splits apart friends faster than a bad business deal.

Eva Said:

Title Insurance?

We Answered:

No, it's not legally mandated.

However, without a copy of the title insurance policy, he hasn't got a claim if something happens. It makes a large difference to the price you'll get. Without that policy of title insurance, it becomes a lot more of a speculation as to whether he'll get the money from the trustor that he is owed.

Albert Said:

Can I get insurance for an R-title (salvage title) vehicle?

We Answered:

My experience is you will have to apply for the reconditioned salvage title, meaning it is inspected and safe for use on state roads, and then you can get insurance.-Not really sure what "R-Title" means but here in TX you get a "Salvage" title 1st and after repairs and pass inspection, you reapply for a new Reconditioned Salvage title and then the vehicle is legal to operate on public roads. My insurance company has my truck insured with reconditioned salvage title.

Tracy Said:

Owner's Policy of Title Insurance being extinguished when property in a Trust and owner dies.?

We Answered:

WEll, there's no verb here.

But yes, a title insurance policy is NOT transferrable. So when the original owner dies, the new owner must purchase a new policy - if they so desire.

Mark Said:

Is it safe to go over the FDIC limit at USAA? (trust account)?

We Answered:

No its not try to keep below 100,000 because if the bank fail you would lose the interest and other amounts that is over that limit so in your case you should have approx. 3 accounts but Please think for a second if all banks fail how would the government be able to pay back all that debt. I know the banks and government say that your money is FDIC up to 100,000 but just think if all the banks was to fail at once how would the government be able to pay everybody back what they have saved up in the bank. The Government is full of Shyt and you should not trust this LIE. DONT PUT THIS TYPE OF TRUST IN ANYONE Please have something stashed away ~GOD BLESS~