Wednesday, September 29 2010
A real estate purchase is one of the best investments you can make — so be certain to protect your land ownership against possible title problems that can hinder the transfer and marketability of your real property. These problems are defects and occur before the date of the policy and remain undisclosed until sometime later. Even the most thorough search of the public records cannot reveal some the "hidden" hazards.
A one-time premium will safeguard your property from actual loss and defense costs (unless specifically excluded), up to the policy amount, resulting from any risk covered by your policy. A mortgage policy protects only your lender against tide defects. Purchasing an owner's policy of tide insurance will protect your interests. Title insurance covers tide defects such as:
1. Forged deeds, mortgages, releases of mortgages and other instruments.
2. False impersonation of the true owner of the land or of his consort.
3. Instruments executed under fabricated or expired power of attorney (death).
4. Deeds apparently valid but actually delivered after death of grantor or grantee, or without
consent of the grantor.
5. Deeds by persons of unsound mind.
6. Deeds by minors.
7. Deeds not properly delivered.
8. Deeds that appear to convey title but are really mortgages.
9. Outstanding prescriptive rights not of record and not disclosed by survey.
10. Descriptions apparently, but not actually, adequate.
11. Duress in execution of instruments.
12. Defective acknowledgment due to lack of authority of notary. (Acknowledgement taken
before commission or after expiration of commission)
13. Deed or property recited to be separate property of grantor, which is in fact, community or
14. Deed from bigamous couple. (Prior existing marriage in another jurisdiction)
15. Undisclosed divorce of spouse who conveys as sole heir of deceased consort.
16. Undisclosed heirs.
17. Misinterpretation of wills, deeds and other instruments.
18. Birth or adoption of children after date of will.
19. Children living at date of will but not mentioned therein.
20. Discovery of will of apparent intestate.
21. Discovery of later will after probate of first will.
22. Administration of estate and probate of wills of persons absent but not deceased.
23. Conveyance by heir, devisee or survivor of a joint estate who murdered the decedent.
24. Deed from trustee of purported business trust, which is in fact, a partnership or joint stock
25. Deed of executor under non-intervention will when order of solvency has been fraudulently
procured or entered.
26. Deeds to or from corporations before incorporation or after surrender, or forfeiture, of
27. Claims of creditors against property conveyed by heirs/devisees within prescribed period
after owner's death.
28. Mistakes in recording legal documents. For example, incorrect indexing, errors in
transcribing and failure to preserve original instrument.
29. Record easement, but erroneous ancient location of pipe or sewer line, which does not
follow route of granted easements.
30. Special assessments where they become liens upon passage of resolution and before
recordation or commencement of improvements for which assessed.
31. Want of jurisdiction of person in judicial proceedings.
32. Failure to include necessary parties in judicial proceedings.
33. Federal estate and gift tax liens.
34. State inheritance and gift tax liens.
35. Errors in tax records. For example, listing payment against wrong property.
36. Ineffective waiver of tax liens by tax or other governing authorities repudiated later by
37. Corporation franchise taxes as lien on all corporate assets, notice of which does not have to
be recorded in the local recording office.
38. Erroneous reports furnished by tax officials, but not binding on municipality.
39. Tax homestead exemptions set aside as fraudulently claims.
40. Lack of capacity of foreign personal representatives and trustees to act.
41. Deeds from nonexistent entities.
42. Interests arising by deeds to fictitious characters to conceal illegal activities on the premises.
43. Deed in lieu of foreclosure set aside as being given under duress.
44. Ultra vires deed given under falsified corporate resolution.
45. Conveyances and proceedings affecting right of servicemen protected by the Soldiers and
Sailors Civil Relief Act.
46. Federal condemnation without filing of notice. Federal law does not require filing of notice
of taking in local recording office.
47. Break in chain of title beyond period of examination or public records where running of
adverse possession statue has been suspended. True owners are incompetent, absent or
incarcerated or the sovereign holds title.
48. Deed from record owner of land where he has sold property to another purchaser on
unrecorded land contract and the purchaser has taken possession of premises.
49. Void conveyances in violations of public policy: payment on gambling debt, payment for
contract to commit crime or conveyance made in restraint of trade.
Tuesday, September 28 2010
The State of Indiana is positioned among the best in the country to do business. Once we are out of the recession, Indiana can see major increases of new business opportunities. Here is a list that sheds light on this situation:
· Indiana created 56,000 private sector jobs this year. Almost 10% of all private sector jobs created nationwide. (5 times National Average)
· 42 States have raised taxes--Indiana has cut taxes (only State)
· Indiana is ranked 2nd Nationally in Fiscal responsibility.
· Because of our Fiscal soundness, Indiana is the friendliest state to grow a business.
· Our State Pension debt is funded—Unlike other States
· We are in a better place than we have ever been—Any Company thinking about expansion is looking at Indiana.
· Indiana took advantage of the Stimulus Package better than any other State, because we had the money to start projects, prior to receiving Stimulus money.
Monday, September 27 2010
Here are the products grabbing the attention of the home building and remodeling industries, according to Bill Millholland, executive vice president of sales and marketing at Case Design/Remodeling in Maryland, and Jamie Gibbs, a New York-based interior designer:
· Counter-depth refrigerators. Some are only 24 inches deep.
· Motion-detecting faucets. Like you'd find in the restrooms of businesses.
· LED (light-emitting diode) lighting. These are used under cabinets and in ceiling fixtures as a longer-lasting, more efficient alternative to compact fluorescent lamps and incandescent bulbs.
· Electric heated floors. A nice touch in bathrooms,
· Showers with multiple heads and body sprays. Bathtubs are out.
Saturday, September 25 2010
The National Association of REALTORS® is pleased to report that Congress has unanimously approved a one-year extension, until Sept. 30, 2011, for the National Flood Insurance Program (NFIP). A long-term extension has been a top legislative priority for NAR. Earlier in 2010 the NFIP lapsed, causing major disruptions for REALTORS®, and with the Sept. 30 deadline fast approaching, NAR redoubled its efforts to extend the program.
Friday, September 24 2010
Officials at Holiday World & Splashin' Safari in Santa Claus are reporting an increase in customers this year of approximately 13 percent. Public Relations Director Paula Werne says the jump can be mainly attributed to the debut of the park's new water coaster, Wildebeest. Holiday World has also announced plans for more than $5 million in improvements by next summer.
That includes $1 million in parking lot improvements and additional restrooms.
Werne says the decisions on what improvements should be made comes partly from customer feedback, along with the park's long-term planning process.
She also says the debut of a major new ride usually leads to a two-year bump in attendance, allowing the park to focus on important upkeep items such as parking lot improvements and more restrooms.
The park is also planning to restore the town's historic Santa statue in the next year. It was dedicated in 1935.
Tuesday, September 21 2010
By Robert Freedman, senior editor, REALTOR® Magazine
A piece in the Wall Street Journal yesterday took issue with a recent Time cover story calling into question some of our most cherished beliefs about homeownership. Much of what the Journal talks about isn’t new. In fact, it recites benefits of homeownership that you already know better than anyone. But in pulling them together in the way it does, it makes you realize just how compelling homeownership is from just about every standpoint. If you haven’t seen the piece, by Brett Arends, here’s a thumbnail sketch of its 10 points:
Why is now a great time to buy?
1. You can get a good deal. Prices are down 30 percent on average. They’re at a level that makes sense for people’s income.
2. Mortgages are cheap. At 4.3 percent on average for a 30-year fixed-rate mortgage, your costs to own are down by a fifth from two years ago.
3. You can save on taxes. When you add up the deductions for mortgage interest and others, the cost of owning can drop below renting for a comparable place.
4. It’ll be yours. The one benefit to owning that never changes is that you can paint your walls orange if you want (generally speaking; there might be some community restrictions). How many landlords will let you do that?
5. You can get a better home. In some markets, it’s simply the case that the nicest places are for-sale homes and condos.
6. It offers some inflation protection. Historically, appreciation over time outpaces inflation.
7. It’s risk capital. If the economy picks up, you stand to benefit from that, even if you’re goal is just to have a nice place to live.
8. It’s forced savings. A part of your payment each month goes to equity.
9. There is a lot to choose from. There are some 4 million homes available today, about a year’s supply. Now’s the time to find something you like and get it.
10. Sooner or later the market will clear. The U.S. is expected to grow by another 100 million people in 40 years. They have to live somewhere. Demand will eventually outpace supply.
Sunday, September 19 2010
Saturday, September 18 2010
Clogged drains are a common problem that nearly every homeowner will encounter and have to resolve. Because the plumbing pipes are designed only to bring in clean water and eliminate wastewater, poorly maintained plumbing systems can result in clogged drains. There are various substances that can create clogs. These items are not supposed to be put in the drains. In order to prevent clogs, it is important to know what kinds of items make drains clogged in home plumbing systems.
1. The bathtub drains can become clogged with a variety of substances such as hair, soap, and chemical cleaning agents which can accumulate in the drain and build up in the pipes. To prevent build up of debris and matter causing clogs, you can insert strainers in the drain hole and keep them cleaned out. As well, after bathing or showering, make sure that you run the tap water thoroughly in order to make sure all matter has been pushed through the pipes.
2. Kitchen drains can become clogged due to food, grease, and debris being put in the drain. Pour grease into a can and put it with the trash instead of pouring it down the sink. Make sure you have cleaned off all dishes that held food before you rinse and wash them. Once a week, run hot water down the sink drain to keep the pipes clear of debris. You can also add a homemade drain cleaner consisting of vinegar and baking soda down the sink once a week and flush it with hot water to remove accumulation of matter. As well, never use the garbage disposer without running water down the pipes to flush out the food particles and organic debris. Don’t put tough, fibrous foods into the garbage disposal such as chicken bones and celery pieces.
3. Some people will dump harmful products such as hot wax, paint thinner, and motor oil down the sink drain. This will not only contribute to clogs, but it can damage the plumbing system. Never pour these items into your sink drain and use non corrosive drain cleaners.
Slow drains are extremely frustrating, but a clogged drain is even more annoying. If you have something in your drain causing a clog, overtime it will only get worse and cause a more serious problem. By properly maintaining your plumbing system, you can reduce the chances of getting a clogged drain. Annual inspections by a professional plumber will help your plumbing systems stay clear, clean, and working properly.
If you do get a clog, there are items you can use to clear the clog such as sink augers, plungers, plumbing snake, and non corrosive chemical drain cleaners. There are also bacteria-based enzyme cleaners that eat away at a clog without causing damage to the pipes. Remember, for clogs that cannot be removed even after you have tried everything, it is important to contact a plumber who will have the skills and tools to identify the cause of the clog and repair the problem.
Friday, September 17 2010
The Indiana State Police are investigating a cash based scam that involves sending money via a commercial wire service. The scam appears to be targeting only elderly residents with one couple losing more than $3,000.
How does it work? An unknown person will telephone an elderly resident and tell them that a family member has been arrested and needs bond money to be released from jail. The suspects will identify the victim’s family member, usually a son or daughter or grandchild, and then identify themselves as a ranking representative of a certain police agency.
Then the victim is told a lengthy set of unusual circumstances surrounding the arrest, often portraying the arrested family member as an unfortunate participant that happens to be in the wrong place at the wrong time. The trap is now set and unsuspecting elderly family members begin the process of feeling sorry for their relative and engage in the conversation of how to wire the money to the police representative.
When the elderly victim conducts the initial wire transaction, a routing number is provided only to the victim. After the money is "wired" the victim is told to call the "police agency" back at a provided number. An unknown person will answer with the name of the police agency and when the victim requests to talk with the ranking officer they believe they had talked with previously, the person will "page" the requested officer. When that person answers, a conversation occurs where the victim is told to change the routing of the cash to a different city in the US. The routing number is then requested by the suspect and usually provided by the unsuspecting victim. Once the routing number is given, the cash can be obtained from any location in the world.
ISP reminds Hoosiers to use extra caution when dealing with unknown individuals by telephone or internet.
Wednesday, September 15 2010
I have some good news to report based on August pended (accepted purchase agreements) results. August pended transactions increased for the fourth consecutive month. As I have mentioned a couple of times over the past few months, the now expired tax credit makes month to month comparisons difficult. The tax credit clearly stimulated, then depressed the housing market. As expected May pended transactions dropped dramatically after the spectacular March and April numbers. This coincided with the expiration of the tax credit on April 30th.
We have gone from 269 pended transactions in May to 387 pended transactions in August. This represents a 44% increase. Although that is good news, it is important to keep in mind that the 44% increase is from a low starting point. What is good however is that the 387 pended transactions is slightly higher that the preceding twelve month average of closed transactions. The average sales price in this May-August period has been virtually unchanged. Both of these pieces of information suggest that our market has stabilized, both in terms of price and units sold.
Monday, September 13 2010
Congratulations to Holiday World for their great achievement.
Holiday World & Splashin' Safari in southern Indiana has won six Golden Ticket Awards by Amusement Today magazine. In addition, late owner Will Koch is the second inductee into the magazine's Legends Series. Golden Tickets were presented to the Wildebeest water coaster for Best New Ride in a Water Park and Best Overall Water Park Ride, and the Voyage roller coaster as the top-ranked Wooden Coaster on the Planet for the fourth consecutive year. Holiday World also collected top awards for Cleanest Park and Friendliest Park.
The new Wildebeest water coaster at Holiday World & Splashin’ Safari was named the Best New Ride in a Water Park and Best Overall Water Park Ride at Saturday evening’s Golden Ticket Awards, presented during an Academy Awards-style ceremony at Busch Gardens Williamsburg.
Presented by Amusement Today publisher Gary Slade, the industry’s “best of the best” awards include theme, amusement and water parks from around the world. Holiday World & Splashin’ Safari won a record six Golden Ticket Awards at this year’s ceremony.
For the eleventh consecutive year, Holiday World & Splashin’ Safari were named the #1 Cleanest Park, outranking such parks as Disney World, Kings Island, Dollywood, and Cedar Point. The parks also received #1 Friendliest Park award for the twelfth year.
“For these awards, we humbly thank our wonderful Hosts and Hostesses,” says park matriarch Pat Koch, who attended the ceremony with daughter-in-law Lori and grandson William. “It was a long, hot summer and they all worked together to keep smiling and keep cleaning.”
In an emotional tribute, the late Will Koch was honored as only the second inductee in Amusement Today’s Legends Series for being “a true visionary, leader and dear friend to the industry.” The park’s leader for more than two decades, Koch passed away unexpectedly in June at the age of 48.
Amusement Today is an international monthly trade journal for the amusement and water park industries, based in Arlington, Texas. The Golden Ticket Awards are determined by surveys submitted by well-traveled park enthusiasts from around the world.
Holiday World & Splashin’ Safari will be open September 18 and then closed to the public September 19 for a private outing. From September 25 through October 10, Holiday World will be open weekends-only before closing for the season.
Source: Holiday World & Splashin Safari & Inside INdiana Business