zlacker

>>mecred+(OP)
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.e. Torrens-style

>>emptyb+dq
Unlike most common law jurisdictions, the United States doesn't have a central land registry due to lobbying from the title insurance industry.

https://en.wikipedia.org/wiki/Torrens_title#United_States

>>jjmarr+Wr
Yet another example where "we can't have nice things" because entrenched businesses profit from keeping things not-nice. Title Insurance shouldn't even be a thing. This should be solvable by a database.

>>ryandr+Yz
There is a database. The insurance covers things that aren't in the database. Claims are exceptionally rare, so it's pretty cheap.

>>the_fa+bB
For the risk assumed by the title insurance, it's one of the most overpriced insurance around.