Pigs get Fat, Hogs Get Slaughtered

The Author loves the entrepreneurial spirit in this nation. It is a creative force, an energy, and nearly always improves the lives of the entrepreneur and the customers, clients and citizens. Except when…

A few folks kind of overdo it. Or probably more properly stated, set out to push the edges of the law. And step across the line from pushing the edge to breaking the string and veering into illegality.

The Greater Fort Wayne Business Weekly (the best business publication in Fort Wayne, in the author’s opinion, because they do real reporting and not puff pieces with slick ads and pictures. The Author will probably get slammed on this, but he owns the “printing press,” right?) has an article in Doug Le Duc’s “Reporter’s Notebook – Banking & Finance” on page 6 of the April 19-25 edition.

Le Duc reports on a recent suit by Indiana Attorney General Greg Zoeller against National Deed Service Inc. and National Record Service Inc. The suit claims that the companies offer copies of certified real estate deeds to property owners at exorbitant prices. The first copy is $59.50 and extra copies are $20. The prices are definitely exorbitant. More outrageous than the cost of Ducati motorcycle parts. (Again, just kidding.)

But as exorbitant as the prices are, the companies also “mimic government legal documents which mislead customers into believing they need a copy of their property deed.”

A copy of your deed is a nice thing to have, and you were likely given one at the real estate closing. And they are easy and relatively cheap to get at your county recorder’s office.

This law suit was supported by numerous county recorders in Indiana.

A deed is not like the title to your motor vehicle. You do not need a copy to sell your property. You do not “sign over” the deed, but in fact draft a new one specific to the purchasers. The deed is kept in the County Recorder’s office and is a public record. And as a practical matter, many title insurance companies have copies of your deed, and other recorded documents, in parallel public records that are called “title plants.”

Indiana Attorney General Zoeller is suing the companies under the Deceptive Commercial Solicitation Act and the Deceptive Consumer Sales Act.