Does What Happens in Vegas Stay in Vegas? ~ myClosingSPACE.com Title Insurance Blog

Monday, November 12, 2007

Does What Happens in Vegas Stay in Vegas?


I am sure you have heard the slogan What Happens in Vegas stays in Vegas. While it is a great marketing slogan it is not necessarily the case. The St. Charles Journal (Missouri) had an interesting story about a title insurance related issue that came about due to some Vegas fun. Apparently a St. Charles resident went to Vegas for a little excitement and found it with a cocktail waitress there. So much fun in fact, that he decided to get married while he was there.

All was great with the world until the man passed away. See, his heirs were unaware that he got married in Vegas. They sold his house and a but later the buyers were delivered a letter that they were being sued by the Vegas wife who claimed she was part owner of the house. Luckily they had title insurance and the issue was straightened out without any additional cost to the new owners.

This article highlights the importance of title insurance and discusses some changes to the title insurance law in Missouri that should benefit consumers. These situations are not as rare as many believe and an unknown lien of judgment could pop up at any time. You may think it will never happen to you but it very well could and it could be very painful if you are not protected. Make sure you shop around for title insurance and learn as much as possible, Educating and protecting yourself could save you a lot of money and headaches in the future. And remember if you go to Vegas and get married make sure everyone knows.

2 comments:

Shane Kane - TitleSuccess.com said...

This example clearly illustrates just how important title insurance is. There's a reason why lenders require title insurance for every transaction.

When you buy a home you wouldn’t think about not purchasing homeowner’s insurance to protect against fire, wind, and theft. Nor would you dare buy a home near water without flood insurance.

MCS said...

You are right Shane. Even in a situation where there was one owner and the home would seem to be free and clear of title problems a situation like this could pop up. Without title insurance the new owners would have had major problems.