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Success F inan ce IMPORTANT INSURANCE What’s your dollar actually paying for when you purchase a title insurance policy? Title insurers, unlike property or casualty insurance companies, operate under the theory of risk elimination. Title companies spend a high percentage of their operating income each year collecting, storing, maintaining and analyzing official records for information that affects title to real property. Their technical experts are trained to identify the rights others may have in your property, such as recorded liens, legal actions, disputed interests, rights of way or other encumbrances on your title. Before closing your transaction, the title company will proceed to “clear” those encumbrances which you do not wish to assume. The goal of title companies is to conduct such a thorough search and evaluation of public records that no claims will ever arise. Of course, this is impossible — we live in an imperfect world, where human error and changing legal interpretations make 100% risk elimination impossible. When claims arise, professional claims personnel are assigned to handle them. Proper title plant maintenance, research, evaluation and legal interpretation are the foundations upon which a title policy rests. That is where most of your dollar goes, and that is the source of your protection and peace of mind as a homeowner. ABOUT THE AUTHOR Margaret Jimenez has over 13 years of experience in title, management and real estate. She’s worked with top developers including The Related Group, Maefield Development and Key International and has managed closings for many top South Florida projects; 786.327.9052; Margaret@NuWorldTitle.com. › 44 WACKY VOCATIONS Ian Usher sold his entire life on eBay (home, job, possessions, friends) for $305,000. He’s now a professional speaker with an island off the coast of Panama. Surprisingly, he’s not alone in his outlandish career decisions. TEX T BY STACY W YNN SELLING MIKEY Mike Merrill set himself up as a business with 100,000 shares going for $1. Now his shareholders make his major life decisions, including his breakup, a new car purchase and hair style. SELLING HOMELAND Pat Burke turned requests for Irish dirt into a $1 million business. That was, of course, after he patented a cleaning method to get Official Irish Dirt into the U.S. T-SHIRT ENVY Jason Sadler started wearing people’s shirts for $1 a day, and his endeavor evolved into a $500,000 a year business with staff. He eventually sold his last name for $45,000. He’s now known as Jason Headsets.com.