Tag Archives: California Title

The Box

liverI’m not sure why but I glanced back at the sterile looking box that was skillfully taped up by professional hospital workers.  This wasn’t just any package we were carrying. This white box had a black and green label that read:

LIVER – Donated Human Organ Tissue for Transplant

Handle With Care

Handle with care. The words played over a few times in my mind. Of course we were handing this precious cargo with care. But I was thinking back to earlier in the day.  Before I got a call to fly this medivac mission to transport a human liver.

Besides being a jet charter pilot I sell Title Insurance. My Title job plays out during the day and for one reason or another most of these medivac flights happen at night.

Earlier that day a Realtor, Alice (pseudonym) called with a question. She knew the answer but just wanted  validation. To make certain. Sort of like a kid asking again, “Do I have to go to school?”

 Here’s the story

Alice started telling me the story which went like this.  During her lifetime a very successful woman, Sally (pseudonym), worked diligently to acquire several properties as well as portions of other properties she jointly owned with various investors.

Alice the Realtor went on.

Owning multiple properties served Sally well and she lived comfortably. Sally’s intent was to leave her legacy to her three children. Ironically, Sally, a smart, hard working woman who probably knew better, died without a will or a trust.

No Will, No Trust

“With no will and no trust the property has to go through probate,” I confirmed what the Realtor Alice already knew. How sad.

Without a will or trust, the probate court will take a large share of the money that could have gone to the kids.

Your hard earned money will go to the court instead of to your loved ones

You can look at it like this. If you don’t spend the time and money to prepare a will and trust (more specifically a trust) while you’re alive, then you’ll have to pay the court to do your dirty work once you’re dead. It’s really that simple.

I’ve heard every quotient excuse from the same equation.

  • No it doesn’t matter what the intent was.
  • No it doesn’t matter who lives in the house, or who’s paying the bills.
  • No it doesn’t automatically go to your siblings.

You must have a will and a trust if you want your property to transfer smoothly and without expense to the person(s) of your choice. Plain and simple. And yet, so few people actually make the necessary preparations. Why?

Please feel free to leave comments. And Remember, Sharing is Caring. Thank you.

Note:  I’m a Slash Careerist. Besides being a Title Company Account Executive I’m also a Charter Pilot.  Comments made here are my own and do not necessarily belong to my employers; Chicago Title & Escrow or Chrysler Aviation.

Chicago Title has been in business for more than 160 years. It’s a company you can trust.

For more information about Title Insurance contact me directly at:
Ric Lippincott or leave a comment below




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We Took Them In The Middle of the Night

It's Comforting To Know You Still Have Coverage

It’s Comforting To Know You Still Have Coverage

The morning sun felt busy.  Air traffic control (ATC) suddenly shattered the nights serenity with a string of commands spawned from the numerous early morning Los Angeles arrivals and departures. The radio chatter drummed against my ear, razor-sharp, like the sound of a nervous dog barking over a frozen pond.

I like to imagine the travelers going to exotic destinations . The reasons people travel are as vast as the places they go. Some go for work others to visit family or to find a new love, perhaps a few are just escaping the shattered rubble of a ruined beginning.

The passengers we carried this morning are VIP’s. Transplant doctors. We took them in the middle of the night from Los Angeles to another State where they would retrieve organs from a donor. And now we’re bringing them back with a heavy ice chest carefully packed; a human organ protected and preserved by ice. Someone in need is waiting in a sterile hospital room, tied down with IV needles and heart monitors, perhaps dreaming through a drowsy fog about what life will be like from now on.

Our passengers, or PAX, as we abbreviate them on load manifests, are simply sleeping. Exhausted from their nights work, rejuvenating their brains for the meticulous work ahead.

Descending from altitude we could clearly see our destination airport nearly 50 miles to the south. SoCal Approach continued to vector us along one of the familiar but not always convenient route segments that help them to track us on radar. I say not always convenient because the segmented routes don’t always represent the shortest distance. Sometimes they take us miles out of our way. But these PAX take priority. Their time is precious. A heartbeat can mean the difference between life-extended or a life-squelched. So we declared the airport in-sight and request a visual approach from SoCal Approach.

Looking toward our destination I could see the millions of homes sprawled out across Los Angeles like tiny Monopoly pieces on a playing board. And I briefly thought about those who do uninsured deed transfers on some of those million dollar homes.

Once safely on the ground a waiting helicopter whisks away our VIP’s and speeds them over the morning rush hour traffic to their awaiting hospital. My work here is finished so I pour a cup of coffee and prepare my head for a day of Real Estate and Title Insurance. And I reflect for a moment about the similarity’s and differences of that visual approach and an uninsured deed transfer.

How is a Visual Approach similar to an Uninsured Deed Transfer?

  • When a pilot requests a visual approach some of the burden of looking out for other air traffic shifts from ATC to the flight crew.
  • When a property owner records an uninsured deed they are relieving the title insurance company of risk and taking on that responsibility themselves.

How is a Visual Approach different from an Uninsured Deed Transfer?

  • With a visual approach Air Traffic Control is still monitoring the flight on radar and they will still offer protection to the flight crew. The pilots, while accepting more of the responsibility aren’t left unprotected from other hazards.
  • When a property owner records an uninsured deed they no longer have any protection from title issues and they accept full responsibility.

The reasons to request a visual approach are many. You’re still going to have radar coverage but you’ll save valuable time, fuel and money. But why would anyone record an uninsured deed transfer?

In my work day I run across a handful of uninsured deed transfers. Most are executed by ill-informed homeowners who believe they can escape debt by transferring their property to someone else, like a family member or friend. While you might delay a foreclosure by clouding the title you can’t prevent it by clouding the title. You can’t run and hide forever.

Not everyone is trying to cheat the system. Many people simply don’t know that when you record a new deed on property you’ll need to talk to your title insurance company. The title insurance company will either issue you a new policy or an endorsement covering your transfer, depending on the circumstances.

In the air carrier business flight crews won’t put their PAX in harm’s way by taking risky short cuts.  Likewise, homeowners shouldn’t risk their largest investment by taking an unnecessary risk.

Two Quick Facts About Title Insurance

  • Title insurance is cheap compared to most other types of insurance.
  • Title insurance is paid for once and is good for as long as you or your heirs own the property. There is no monthly or annual payments like car insurance or health insurance.

What Is Title Insurance?

Finally, many don’t know what Title Insurance is. Here’s the short answer from a Chicago Title website:  Title Insurance is a unique form of insurance. It provides coverage for future claims or future losses due to title defects which are created by some past event. These risks are far less obvious than those protected against by automobile insurance, but can be just as devastating. For more info please click on the “What Is Title Insurance” link above.

Please feel free to leave comments. And Remember, Sharing is Caring. Thank you.

Note:  I’m a Slash Careerist. Besides being a Title Company Account Executive I’m also a Charter Pilot.  Comments made here are my own and do not necessarily belong to my employers; Chicago Title & Escrow or Chrysler Aviation.

Chicago Title has been in business for more than 160 years. It’s a company you can trust.

For more information about Title Insurance contact me directly at:
Ric Lippincott or leave a comment below


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Live Each Day Like It’s Your Last, Plan Like It’s Your First

Planning Brings Peace of Mind

I laughed. I’m not sure why. Maybe it was stress or the irony of what I just heard.

Have you ever laughed when it wasn’t appropriate and then felt embarrassed afterwards? In the movie Pulp Fiction John Travolta holds a gun on a man while riding in a car. The gun accidentally goes off when the car hits a bump killing the man in the backseat. The entire theater laughs and then immediately feels guilty for laughing.

“John I’m really sorry for laughing, it’s not funny,” I begged for forgiveness. I felt embarrassed.

John, (a pseudonym), let me off the hook with some understanding words. John is a lawyer and called me about a case he’s facilitating. He started off with, “Ric I need your professional opinion on something,” and went on to describe a story only Quentin Tarantino and Roger Avery could have written.

There is a husband and wife. The wife is falling ill and about to become incapacitated. In a valiant effort to protect their property, the husband takes power of attorney for his wife. Then he uses the power of attorney to vest their property in his name and later into a trust naming their soul sibling as the trustee. The idea seems noble however the law doesn’t permit the use of power of attorney for personal enrichment. Therefore the Title transfer becomes ineffective.

The ironic component of this story happens when the wife, who is expected to perish, outlived her husband who holds power of attorney over her! When John told me this I said, “John this is the place in a story where I tell people to call you!”  Irony aside, the Title has a cloud and it may or may not take a court to sort it out.

The wife did die soon after the husband and their soul surviving sibling is left to untangle the web.

After hanging up with John I pondered the consequences of improper Estate planning. Or worse I thought of the millions of property owners who have no Estate planning at all. Then I considered those who record ineffectual property transfers. It’s a good reminder to consult with an expert before recording a document on your property.

Just because the State accepts the recording fee does not guarantee the property has a clear Title.

Check with a reputable Title Company. Each state has their own laws regarding ownership of property and tax consequences. The best course of action for Estate Planning is to check with an attorney first. The worst thing you can do is – do nothing. Or doing something improperly. When you don’t have solid estate planning in place, the property will go to probate court.  There, an executor will take their piece and the state takes a chunk in taxes and court fees. What’s left for your loved ones will be far less than it would be if you have proper Estate Planning.

I’m not legally able to recommend specific Estate Planning for you. But I can certainly refer you to a few great attorneys who can.  And I can strongly encourage you to get it done – correctly!

Please feel free to leave comments.  And Remember, Sharing is Caring.  Thank you.

Note: I’m a Title Rep.  In other words, I sell Title Insurance. Comments made here are my own and do not necessarily belong to my employer; Chicago Title & Escrow.

Chicago Title has been in business for more than 160 years. It’s a company you can trust.

For more information about Title Insurance or flying airplanes, contact me directly at ric.Lippincott@ctt.com.

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