The only time that you need title theft insurance is for vacant residential building lots.

Attorney Tom Olsen: Chrissy, I want to talk about title theft insurance, because--

Attorney Chris Merrill: I was just going to bring that up.

Attorney Tom Olsen: --we still get calls about that almost every day, because there's so many TV commercials about title theft insurance. The TV commercials are making it sound like the end of the world is coming, that somebody's going to steal your home and you're going to wake up one day and it's going to be gone. We know from experience that that is not the case. This title theft insurance is not necessary except for what we've always said was a very limited set of circumstances. I want to tell listeners that here at the Olsen Law Group that we had been working with, I'm going to call her a little old lady, sweet little old lady that had her vacant, residential building lot stolen out from under her. You've worked very hard to get that lot back to her and you're very close to getting that case resolved in her favor. Congratulations. That was a huge deal. Good for you.

Attorney Chris Merrill: Thank you.

Attorney Tom Olsen: When you were talking to the other attorney that represented the other side, you found out what we thought was always been true,

Attorney Chris Merrill: Correct, because it just so happens that this attorney, all she does is work with a title company. She confirmed what we have been saying and helping people. That is that this type of insurance is really something that most people don't need. Why? Because the forgery, the theft, the stealing of title really only applies to one small little niche, which is, if you own a vacant, residential, buildable lot that you do not regularly have access to, you don't see it all the time, those are the pieces of real estate that are vulnerable, if you will.

Attorney Tom Olsen: Let's break it down for people. Vacant, we're talking about an empty lot. There's no structure on it.

Attorney Chris Merrill: Correct.

Attorney Tom Olsen: Okay. Residential buildable lot, we're talking about a lot that's 50 by 100, 75 by 100. It's located within a city or township that somebody might build a house on. That's what somebody would need title theft insurance. That's what's being stolen. Why? Because it's the easiest to get away with.

Attorney Chris Merrill: Correct.

Attorney Tom Olsen: If you own an ordinary home or even a rental home or commercial property, you don't need it. If you own big pieces of acreage, 5 acres, 10 acres, you don't need it. We get back to this vacant, meaning it's no structure on it, residential building lot. I had a guy call me the other day about it. I said, "This is the only time you need it." He goes, "Well, I have one of those." I go, "Okay, you need title theft insurance."

Attorney Chris Merrill: There you go.

Attorney Tom Olsen: Go for it.

Attorney Chris Merrill: Exactly.

[00:02:39] [END OF AUDIO]