Title insurance is INSURANCE... if you have a loss because of a covered event they pay your defense costs and compensate you for any loss that may be incurred. Buying a certified copy from National Deed Service is just that... a certified copy.
Even in the wake of hurricane Katrina, I am not aware of a single person who lost legal title to their home from the records being lost or destroyed. Around here, our Recorders offices stored micro-film copies of the documents off-site. Since they began imaging, there is always a duplicate copy of the images at another location. I don't have a certified copy of my deed and I don't loose any sleep over it. Because I know its recorded... I don't fall for the con-men's fear mongering.
Marketing may create a need, but when it goes so far as creating an unrealistic fear its just plain unethical. They are misleading the pubic into thinking that paying such a ridiculous fee will protect them and that's just not true. They prey on the fears of those who don't know any better.
As for marking up wholesale prices... an 1,700% markup is unconscionable. Combine that with a service that adds virtually no value and doesn't provide the security that their ads lead you to believe you are purchasing - they should just be ashamed of themselves.
If your grandmother received an e-mail solicitation from National Deed Service, would you recommend to her to pay them $89 for a certified copy of her deed? I sure wouldn't... I'd tell her the same thing I have already said here - ITS A RIP-OFF!
Best,
Robert A. Franco
SOURCE OF TITLE
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