 Welcome to TFNN. Hi Tom, thank you, how are you? I'm doing great. And bottom line folks is that each and every one of us right across the country, you know, whether you're buying, selling a house, or whatever you're doing, we are gonna get some of the good, the bad, and the ugly inside of closing real estate transactions. So tell us, Danielle, you know, I was, of course, I've been down here 25 years when I was in Boston, you always had a closing attorney and it was an attorney. When I came down here, and Danielle folks is my real estate attorney, she's fabulous, okay? The bottom line I wanted to put her on though, just for the aspect of coming right across the country is why you should have an attorney. But even in Florida, in Florida, well here, in Florida, I mean, what happens is that you just have title people, right? So talk to us the difference in Florida, a title person versus having an attorney on your side. And I know you have a title company also, but talk to me about that difference. Yes, so the difference is essentially I can do the same thing a title company can, and they can almost do the same thing in a attorney can when it comes to a closing transaction, but not everything. You know, if the transaction goes 100% smoothly then a title insurance company can close it according to plan. Yes. Unfortunately, you know as well as anybody, not every transaction is a smooth transaction. Right. Sometimes there's those surprises in the title work that you didn't expect, and you need to fix those items. So I think that's probably the main reason why I recommend going to a real estate attorney with every transaction is to get that protection, to ensure that you can close and get those items fixed. I know a lot of title companies can tell you, hey, you have an issue here, you need to fix it, but they don't have the ability to actually help you fix that problem. Yes. You know what I mean? Yes, no, we both know I definitely know what you mean. Because what does happen folks when you do a lot of transactions, something's always gonna, not always, okay, but the bottom line when something does come up, you're talking about big money, if you're buying or selling a house and it's very important to make sure that it's done correctly. So what are some of the bigger issues that you see in your transactions that people, no matter where they are in the country, should always be looking at? I think number one, your deed. It's the most important document that you're going to sign. And a lot of people just treat it as another document. Yes. If it's not executed or prepared properly, you might not have the title that you expected to have. Or more importantly, what I see a lot is it won't include non-homesed language or marital status. And so when you go, you know, when the buyer goes to sell the property in, you know, 10, 15 years and there's an issue with the deed and to them fixing it 10 to 15 years from now is much, much more difficult than making sure it's correct at the outset. No doubt. And, you know, what we have run into a few times, folks, and I want to have Danielle explain this to you, is that, you know, there's many folks that they'll set up LLCs, okay? Are they won't set up an LLC? And all of a sudden, you think you're buying this off a trust, and the fact of the matter is it's never been registered. So can you talk to us a little bit about that? We've run into that a few times. They say it's a trust. So it's like, okay, where is the trust, right? I mean, but if you can speak to the audience, that'd be awesome. Yeah, so it's a little bit different depending on if it's an LLC or a trust. But yeah, absolutely. People will create what they think is a trust or actually, let's go with an LLC first. They'll create what they think is an LLC or corporation, but they didn't actually register it or it's dissolved. If they didn't register it, then it becomes a huge issue of who actually owns this property. That LLC doesn't exist and it never did. And it's not in your name individually. How do we fix that issue and make sure that you are the owner and can sell it? So that's a major issue. For sure. And what we've seen before is into a trust. A trust is a wonderful avenue to buy and sell property, but you need to make sure that the deed is done properly so it goes into the trust properly. If not, it goes into a trustee. And as you've seen, if it goes into the trustee's name individually and that trustee has any judgments or anything, it can attach to the property. So now you thought you had owned a property in a trust, but it's actually owned by this trustee who shouldn't have any ownership interest or any beneficiary interest in the property and any of their judgments have now attached to the property. Yes. Now folks, this part here is gonna save everyone a lot of money, okay? Talk to us about the title company, the title insurance and owner's insurance. And if you can explain to the audience the difference. And when you see this one, folks, let me tell you something, whether you're gonna do a refinance or anything like this, okay? If you can just explain how an owner's policy works and what the difference is, you know, like when I'm buying a place and I refinanced it or whatever, so how they can save money. Yeah, so your owner's title insurance policy is extremely important. And I don't think a lot of people understand that when they purchase a property. Your owner's title insurance policy is based off of the sales price. And it's something that you have for the entire life of ownership of the property. It stays with you. So it's a one-time small fee and you keep it forever. Now, what that does is when you own a property and you have an ownership and owner's policy, it protects you to make sure that you do own that property. So for example, let's say 10 years down the road, somebody knocks on your door and says, hey, I own this property. Well, you make a claim on your title insurance policy and they step in and protect you and they fight against that individual and say, no, you don't own this property. We're gonna protect your interest. And if that means that they have to pay this person off or they actually have to go into litigation, they'll do either of that. They'll hire an attorney to represent you and make sure that you own your property. What's also great is if you get a loan, if you get a loan or if you sell the property shortly thereafter, you get a discount on your title insurance policy as long as you have the owner's title insurance policy. So there is a lender's title insurance policy as well. There are two different policies. Owners protects you as the owner, lender protects the lender and ensures that their loan is in first lean position. If you don't keep them together, let's say you buy a property cash and you want to refinance it after the factor if you wanna take some money out for construction purposes, you'll still get a discount on that second lender's title insurance policy if you have your owner's title insurance policy in hand. Which is huge folks, okay? So the key is, just as Daniel explained, get that owner's policy because if you keep it, if you refinance it, you're gonna get a discount going forward. Daniel, thank you so much for the education. You have a great one, safe one. We look forward having you on again. Thank you, Tom, have a great day.