Title Insurance

[beyondthewall]

Hello, 

I searched the forum and didn't see anything on this topic.

My partner and I are looking to sell our property conventionally with title company and realtor.  We were just informed of the title insurance issue IF cannabis is onsite, that a title company and mortgage lender won't touch it.  Has a workaround for this issue been developed through using a 3rd party lawyer as a title agent instead?  Selling only for cash or contract?  Any other workarounds? 

References below. . . 

Thanks in advance,

BTW

https://www.mirealtors.com/Portals/0/Documents/LOTLMarihuanaTrendsJan18.pdf

https://www.mid-americantitle.com/local-news/insuring-real-estate-transactions-which-involve-the-illegal-or-legal-use-of-marijuana-is-not-allowed

https://www.cannabisbusinessexecutive.com/2018/10/cannabis-industry-continues-to-mature-but-getting-title-insurance-still-problematic/

https://www.kreisenderle.com/medical-marijuana-real-estate-transactions-title-insurance-and-closing-issues/

[Restorium2]

You get the title insurance while the plants are down. Not like they are permanent. 

[AlexanderOgden]

I think I can help you with that because I've been trying for a long time to find more options to make it easier to take out an insurance policy. It makes sense to me because I want to buy another car and it has to be quick and hassle-free. If you use what any driver insurance needs, you can find a lot of helpful factors and options that I use now.

[Willi1989]

18 hours ago, AlexanderOgden said:

I think I can help you with that because I've been trying for a long time to find more options to make it easier to take out an insurance policy. It makes sense to me because I want to buy another car and it has to be quick and hassle-free. If you use what any driver insurance needs, you can find a lot of helpful factors and options that I use now.

Geico is always a great option for this. Try it and you'll see what I mean. Either way, this industry is not going to be cheap. Be prepared for that.

[Restorium2]

Not sure you guys even understand what a title insurance company does.

They research the property and look for anything that has ever been filed on it.

It's about getting the path of ownership as nailed down as possible. 

It has nothing to do with anything else other than properly filing the paperwork that shows your ownership after you purchase a parcel.

Your realtor can recommend the best title insurance companies in your area.