Post AltoF0H3zlHT9CXII4 by ascherbaum@mastodon.social
 (DIR) More posts by ascherbaum@mastodon.social
 (DIR) Post #AltoEytd7OwSsEZ47s by ascherbaum@mastodon.social
       2024-09-11T16:06:05Z
       
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       TIL: "Title Insurance" is a thing in the #USA.Because no one keeps centralized records, a title on a house can appear "out of nowhere", and can be very costly. Hence an insurance which covers such claims, and might costs around 1% of the sales prices, or more.For the land of "small government", that's a lot of overhead outsourced to the little man, or woman. Love me some "Grundbucheintrag" in Germany.https://freakonomics.com/podcast/title-insurance/
       
 (DIR) Post #AltoEzndl9kFfwlnQe by monarchist@na.social
       2024-09-11T16:13:34Z
       
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       @ascherbaum Er, no. You file with the city. However private transfers, wills, etc. are handled through a different system.
       
 (DIR) Post #AltoF0H3zlHT9CXII4 by ascherbaum@mastodon.social
       2024-09-11T16:21:00Z
       
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       @monarchist In Germany, such things go into the "Grundbuch" (Title Register) and that's the only place someone has to lookup such things. No need for insurance, or workarounds.Yes, it's a system managed by "the state" (the city or municipality in this case).
       
 (DIR) Post #AltoF0zNL0j5MdGgMK by monarchist@na.social
       2024-09-11T16:21:55Z
       
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       @ascherbaum Yes, we have that here, too. But if you have a contract or will floating around out there, or a claim by adverse possession, this will change things!
       
 (DIR) Post #AltoF1ZXAZeLAmBYie by ascherbaum@mastodon.social
       2024-09-11T16:23:34Z
       
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       @monarchist Well, it can't here.