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Old 07-15-2010, 09:09 PM
 
Location: Bethesda, MD
317 posts, read 1,003,057 times
Reputation: 111

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I know there is some Exceptions To Coverage In the Title Insurance Policy :

"taxes or special assessments left off the public record"

Exceptions To Coverage In Your Title Insurance Policy
Title Insurance: Exceptions to the Rule

But there is new fines for Clark County code violations: ( @007 license to sell ! thanks for this link - )
Home reseller rails against county code rule - Business - ReviewJournal.com

Is this fines for code violations IN or out of public record ? ->
because if it out of public record -> Title Insurance WILL NOT protect it -> so this fines for Clark County code violations will be part of "Exceptions" ?
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Old 07-16-2010, 07:24 AM
 
Location: North Las Vegas
1,631 posts, read 3,950,578 times
Reputation: 768
Quote:
Originally Posted by Natali :) View Post
I know there is some Exceptions To Coverage In the Title Insurance Policy :

"taxes or special assessments left off the public record"

Exceptions To Coverage In Your Title Insurance Policy
Title Insurance: Exceptions to the Rule

But there is new fines for Clark County code violations: ( @007 license to sell ! thanks for this link - )
Home reseller rails against county code rule - Business - ReviewJournal.com

Is this fines for code violations IN or out of public record ? ->
because if it out of public record -> Title Insurance WILL NOT protect it -> so this fines for Clark County code violations will be part of "Exceptions" ?
That's the problem those super liens haven't been making it into public records that is why the title company isn't catching them, the assessors office is behind in their reporting on allot of things allot of times the correct owner isn't even on the tax records..
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Old 07-16-2010, 10:12 AM
 
Location: Bethesda, MD
317 posts, read 1,003,057 times
Reputation: 111
Quote:
Originally Posted by 007 license to sell View Post

That's the problem those super liens haven't been making it into public records that is why the title company isn't catching them, the assessors office is behind in their reporting on allot of things allot of times the correct owner isn't even on the tax records..
But this can go very high :

"The fine starts at $100 a day for the first 10 days after notification, then goes to $500 a day for the next 20 days and $1,000 a day after 30 days."

Home reseller rails against county code rule - Business - ReviewJournal.com

its $11,000.00 after 30 days
$41,000.00 after 60 days
$71,000.00 after 90 days
$101,000.00 after 120 days


and if as you say " title company isn't catching them" -> so there is no insurance for this ?!? -> so new owner responsible to pay back this fines OR county can take this home (if no one will pay this
fines ) ?
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Old 07-16-2010, 04:12 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,190,159 times
Reputation: 2661
Quote:
Originally Posted by Natali :) View Post
But this can go very high :

"The fine starts at $100 a day for the first 10 days after notification, then goes to $500 a day for the next 20 days and $1,000 a day after 30 days."

Home reseller rails against county code rule - Business - ReviewJournal.com

its $11,000.00 after 30 days
$41,000.00 after 60 days
$71,000.00 after 90 days
$101,000.00 after 120 days


and if as you say " title company isn't catching them" -> so there is no insurance for this ?!? -> so new owner responsible to pay back this fines OR county can take this home (if no one will pay this
fines ) ?
There are no "super liens" from the county because they have never collected one. When and if they do they will be recorded.

Let us get this straight...it is virtually impossible to get nailed by a lien not satisfied. Title Insurance companies will simply not allow a close with such a lien outstanding unless some special provision is made.

Now stop worrying. We close a few thousand houses a month. This sort of problem almost never occurs and is generally taken care of reasonably quickly when it does happen. That is why you buy the insurance.

Now go buy a house and stop day dreaming about the awful things that may happen.
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Old 07-16-2010, 07:12 PM
 
Location: Bethesda, MD
317 posts, read 1,003,057 times
Reputation: 111
Quote:
Originally Posted by olecapt View Post

Now go buy a house and stop day dreaming about the the awful things that may happen.
No, not NOW ! one of this "awful things" have name "prices decline" ->
and in my price range 10%-15%-20 % decline will be $20k -$30k-or $40k lost


"I hate to say it, but we could see prices decline another 10 percent," Murphy said.

Kaye Cuba, senior director of valuation services for Cushman & Wakefield in Las Vegas, set the number a little higher, at a 15 percent to 20 percent further decline on the residential side."

Jul. 16, 2010
Copyright © Las Vegas Review-Journal
REAL ESTATE: Nevada still No. 1 in foreclosures as more price declines expected - Business - ReviewJournal.com
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Old 07-16-2010, 07:33 PM
 
Location: Bethesda, MD
317 posts, read 1,003,057 times
Reputation: 111
Quote:
Originally Posted by olecapt View Post
Now stop worrying. We close a few thousand houses a month. This sort of problem almost never occurs and is generally taken care of reasonably quickly when it does happen. That is why you buy the insurance.

.
This sort of problem is very new -> because this is very new law/rules from Clark County -> "The ordinance, which goes into effect today, provides assessment of fines up to $1,000 a day for failure to correct violations of Clark County Code Title 11, the Rehabilitation of Abandoned or Rental Residential Property."
Jul. 01, 2010
Copyright © Las Vegas Review-Journal
"A new Clark County code amendment tramples on private property rights and could throw the entire foreclosure process into chaos,..."

and, sorry olecapt, but I believe -> if Clark County want to get this
"$1,000 a day for failure to correct violations of Clark County Code " ->
Clark County will have it....one way or another...
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Old 07-16-2010, 07:39 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,190,159 times
Reputation: 2661
Quote:
Originally Posted by Natali :) View Post
This sort of problem is very new -> because this is very new law/rules from Clark County -> "The ordinance, which goes into effect today, provides assessment of fines up to $1,000 a day for failure to correct violations of Clark County Code Title 11, the Rehabilitation of Abandoned or Rental Residential Property."
Jul. 01, 2010
Copyright © Las Vegas Review-Journal
"A new Clark County code amendment tramples on private property rights and could throw the entire foreclosure process into chaos,..."

and, sorry olecapt, but I believe -> if Clark County want to get this
"$1,000 a day for failure to correct violations of Clark County Code " ->
Clark County will have it....one way or another...
Natali you simply appear bound and determined to post idiot thoughts.

Clark County can and may someday go after someone with this big gun. They have the firepower. They have yet to do so.

If they do it it will be recorded and paid by the seller.

Now find some other piece of silliness to question.

Your post are approaching the level of really boring.
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Old 07-16-2010, 09:56 PM
 
Location: Bethesda, MD
317 posts, read 1,003,057 times
Reputation: 111
boring ?
ok, let's do same fan !

there is links for Clark County, Nevada, Public Records

1. Clark County, Nevada Free Public Records Directory

2. The Official Site of Clark County, NV

Can you point me in the right direction? -> where I can see Public Record about fines for violations of Clark County Code ?
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Old 07-16-2010, 10:24 PM
 
Location: Bethesda, MD
317 posts, read 1,003,057 times
Reputation: 111
there is names for lien documents :
L, IRSL, IRSLR, LISP, DEF, B, NTS, O, N, J, TAXCRT, HL, MECH, TXDUE

which one is for fines for violations of Clark County Code ?
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