Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

221 Cannon is Not For Sale

fredbenenson.com

Post reply on HN
Print view View original

51–60 of 278 posts

Re: 221 Cannon is Not For Sale

#51

Post by bluGill »

wrs wrote: post #30
nine_k wrote: post #17

Earlier quoted context omitted.

I wonder why a commercial entity that registers ownership / titles for free, and bills for checking, did not spring up. Clearly there is moneyed demand for certainty about title rights, and if you can provide certainty (because the last deal was registered with you), it may be a more desirable product than mere insurance.

It’s turtles all the way down, though — how do you know that last deal had clear title? At some point you’re going to want insurance anyway. In any case, the US system is already that the government records ownership (not for free, but for a small recording fee) and the title company charges for checking, and for insurance in case they get it wrong. As just one example of how it can go wrong, here in Seattle it’s com…

That depends on the state. I live in Iowa where the state records the transaction and verifies everyone's identity. Almost nobody has title insurance because there is nothing to insure. Every other state I've lived in though isn't as good about checking ID and you need title insurance (who is very good about checking id)

Re: 221 Cannon is Not For Sale

#52

Post by dclowd9901 »

emptybits wrote: post #7

1. Author lost me at his first sentence: "Like most people, I’ve had my identity stolen once or twice in my life." I am careful and aware of this possibility, but AFAIK I have not experienced this, nor have "most people" I know. o_O Crazy times. 2. I don't even understand how a title transfer could happen without verifying ownership. Is the title system in the USA decentralized or that much different than elsewhere?…

If you broaden the definition of "stolen identity" to "someone trying to scam either you or someone else by using details on your identity" (which this story more or less is) I think a fair many of us can claim this experience.

Re: 221 Cannon is Not For Sale

#53

Post by raini »

weinzierl wrote: post #42
dcrazy wrote: post #34

Earlier quoted context omitted.

No, the United States doesnt have a central land registry because that is not an enumerated power of the federal government. The individual states have sovereignty over their own land and each has its own system for land registration. The article you linked to even names several states that have a partial Torrens title system. The claim that the title insurance industry is the reason for lack of adoption of Torrens t…

"No, the United States doesnt have a central land registry [..]" Fascinating, how is ownership established if there is no single source of truth? I feel the answer to this is also crucial to understanding OP. It could be a minor annoyance or the real possibility to lose your land.

patio11 wrote a bunch about this: (https://www.bitsaboutmoney.com/archive/working-title-insuran...)

Re: 221 Cannon is Not For Sale

#54

Post by Xeoncross »

dclowd9901 wrote: post #45

> He gave me the standard line: 2-3 weeks if I hear from anyone. > I never heard from anyone. What is the FBI doing if they're not working on cases like this or domestic terrorism/mass shootings? We continue to have both classes of crimes in droves.

You're just a citizen. Why would any of the three-letter agencies work on what you need?

Re: 221 Cannon is Not For Sale

#55

Post by talloaktrees »

eszed wrote: post #43
emptybits wrote: post #7

1. Author lost me at his first sentence: "Like most people, I’ve had my identity stolen once or twice in my life." I am careful and aware of this possibility, but AFAIK I have not experienced this, nor have "most people" I know. o_O Crazy times. 2. I don't even understand how a title transfer could happen without verifying ownership. Is the title system in the USA decentralized or that much different than elsewhere?…

I'm equally careful and aware. Years ago, now, I discovered that someone in New Mexico (if I recall correctly) was working under my Social Security number. That was likely someone not authorized to work in the US writing random digits on an I9 form. No amount of care will protect against that. It wasn't easy to clear up, either. I'm fortunate that a close friend worked (at the time) for the SS administration, and was…

does that mean someone was paying into your social security, essentially boosting your benefit amount when the time comes?

Re: 221 Cannon is Not For Sale

#56

Post by bluGill »

rwmj wrote: post #21
emptybits wrote: post #7

1. Author lost me at his first sentence: "Like most people, I’ve had my identity stolen once or twice in my life." I am careful and aware of this possibility, but AFAIK I have not experienced this, nor have "most people" I know. o_O Crazy times. 2. I don't even understand how a title transfer could happen without verifying ownership. Is the title system in the USA decentralized or that much different than elsewhere?…

I also wondered why someone would own an empty lot in another town for years on end and neither build on it nor sell it.

I know people who have bought the land they want to retire on now. (if they will or not is a different question, but that is the current plan). I know people who own hunting land that they visit one weekend a year. There are people who own land to lease to a local farmer - many farmers have too much money tied up in land and want to lease some of it from someone else to spread the risks.

If the land is expensive you wouldn't let it sit, but there is a lot of land that isn't very valuable that you can just own if you feel like it.

Re: 221 Cannon is Not For Sale

#57

Post by m463 »

eszed wrote: post #43
emptybits wrote: post #7

1. Author lost me at his first sentence: "Like most people, I’ve had my identity stolen once or twice in my life." I am careful and aware of this possibility, but AFAIK I have not experienced this, nor have "most people" I know. o_O Crazy times. 2. I don't even understand how a title transfer could happen without verifying ownership. Is the title system in the USA decentralized or that much different than elsewhere?…

I'm equally careful and aware. Years ago, now, I discovered that someone in New Mexico (if I recall correctly) was working under my Social Security number. That was likely someone not authorized to work in the US writing random digits on an I9 form. No amount of care will protect against that. It wasn't easy to clear up, either. I'm fortunate that a close friend worked (at the time) for the SS administration, and was…

I remember a friend's boyfriend lost his wallet in mexico.

she said the next few years he got many tax returns, apparently several people using his legitimate ssn.

Re: 221 Cannon is Not For Sale

#58

Post by bluGill »

1970-01-01 wrote: post #35
teeray wrote: post #18

Earlier quoted context omitted.

True, but you can still do a confused deputy attack. The fraudster hires a property manager, informs them that they would like to remove the sign because they wish the list the property for sale. Either that or they con a realtor they're working with into doing it. The unknowing realtor, eager for the commission, knows a guy who can take it down.

Who's paying for it? Are they working for free?

No, but paying someone $300 is cheap when you hope to get a check for several hundred thousand in a few months. (even if the scam is only to get the earnest money that is still a $300 investment for the final thousand or two you make - with very little work)

Re: 221 Cannon is Not For Sale

#59

Post by stackskipton »

talloaktrees wrote: post #55
eszed wrote: post #43

Earlier quoted context omitted.

I'm equally careful and aware. Years ago, now, I discovered that someone in New Mexico (if I recall correctly) was working under my Social Security number. That was likely someone not authorized to work in the US writing random digits on an I9 form. No amount of care will protect against that. It wasn't easy to clear up, either. I'm fortunate that a close friend worked (at the time) for the SS administration, and was…

does that mean someone was paying into your social security, essentially boosting your benefit amount when the time comes?

If you don't dispute it, yes. However, if you don't dispute it, IRS knows about it as well and will be asking for their cut. Generally, the benefit increase is not worth higher taxes.

Re: 221 Cannon is Not For Sale

#60

Post by sharadov »

A friend owned farm land in India, he moved to Canada. The property deed was in his name.

Someone in India, with fraudulent documents "sold" his land.

He only came to know about it when he next visited India. Unfortunately he could not do much. There are people who will actively look through property records - if the person is not a local resident ( lives internationally ), then they are prime targets.

This was a decade ago - things have gotten a lot better with digital records and India's Universal ID system. But I did not realize, something like this was possible in the US.

Post reply on HN