NLIC.org

Amber Said:

"clean Title" yet insurance co says "salvaged"?

We Answered:

Not every state brands a salvaged title.

You can purchase a total loss (salvage) car- it will have a salvage title. You repair the car. Then have the dmv inspect the vehicle and issue a new title. Now the car is allowed to be driven on the road. However, some states will put a brand on the title so you know the car has a salvage past.

However, not every state has a salvage brand. Some, just give you a new title with nothing on it to indicate the car was a total loss.

So, run a Carfax report. It should show the salvage history. Then you can contact the dmv for the state where the car shows salvaged and get a title history. You will have to pay a fee for the dmv information.

Pearl Said:

Can I give my car title to insurance (my car declared totalled)?

We Answered:

They are not going to pay you unless you sign the title and power of attorney form and send it to them. If they have extended and offer and you told them you accept, they will pay you once you send them the title (correctly signed).

So, if you want to get paid - send them the title.

Beth Said:

How to title a motorcycle assembled from parts? How to transfer the salvage title to me from insurance co.?

We Answered:

How did you obtain the frame and the engine and did State Farm give you a reason as to why they could not transfer the title.

There could be all kinds of trouble for you if State Farms still has an interest in the salvage.

Wayne Said:

can a title insurance co. agent who represents you bid on the property you are buying?

We Answered:

What the agent did was illegal and unethical. If you had already placed a bid on the house and the offer was accepted by the owner, I would do three things:
1] Call or write the owner and let him know your are going to take legal action against him for breach of contract.
2] File a legal claim against the agent for unethical practices and breach of contract. What he did was a conflict of interest.
3] File a written complaint with the Title Company and the Real Estate Agent for conflict of interest.
Did you put a deposit on the offer? Did you get a receipt?
If so, you have a good case for claims against the seller and the title agent.
Good luck.
P.S> You might want to consider calling your local district attorney also.

Christina Said:

What is the approxiate cost for Title Service and Lender's title insurance in Denver, CO?

We Answered:

That's a bit high. I would check First American - Lender's Advantage. I just ran a quote for a refinance in Denver County, CO for a loan amount of $300K: Closing fee is $550 (includes notary for a closing at your home) and $594 for title insurance. I don't know if there are any endorsements required in CO, though, so ask your lender so you can attain an accurate quote.

Make sure to call around to some small, local companies, too. If you don't mind going to their office to close you should be able to get a pretty inexpensive closing fee.