Getting Your Edge: How to Rightsize your Home and Life.
Life Happens to Everyone! These events can force changes in how and where you live. How you react and manage those events is what matters. Join Judy Gratton and Dennis Day, two agents with over 22 years combined experience in real estate, as they provide you insights into managing the twists and turns life throws at you, so you can land on your feet and in the right place. Whether you need to downsize from the forever home, upsize to handle a growing family, or moving an aging parent into a safer setting, the “Rightsizing” Podcast will share the information you need to “rightsize” your home and life. Using their personal experiences and interviews with experts in a variety of fields, like: financial planning, estate sales, or living abroad, our hosts will dish out the information and advice that will help you take on life’s challenges informed and prepared. For more information about the Edge Group Real Estate Team and the Freebies click here: https://edgegrouprealestateservices.com/
Getting Your Edge: How to Rightsize your Home and Life.
From Title to Tranquility: Safeguarding Your Real Estate Investments with Jayne Boyle
Unlock the mysteries of title insurance with the guidance of Jayne Boyle from Stewart Title, our expert for this week's "Getting Your Edge" podcast. As we navigate the twists and turns of home ownership and downsizing, we promise you'll come away with a sturdy shield of knowledge to protect your real estate investments. Jane not only demystifies the difference between title and escrow but also sheds light on the often overlooked coverage nuances of title insurance. Her insights into the one-time payment for lifelong security is like discovering a hidden insurance superpower, crucial for anyone facing the complexities of downsizing with tranquility.
Ever stumbled upon unexpected costs when closing on a property? Our discussion with Jayne Boyle is akin to having a navigational beacon through the foggy waters of real estate transactions. We explore the intricate process behind closing costs, from the settlement statements for buyers and sellers to the proactive steps taken by title officers to untangle potential property encumbrances. Moreover, Jane provides a peek into the underwriting and negotiation processes, enabling you to better comprehend what's at stake and how to manage any property disputes that may arise.
As we wrap up, the conversation turns to the pivotal role of title insurance in combating fraud and clerical calamities. Jane relays an eye-opening account of a clerical error that could have spelled disaster for a homeowner and illustrates how title insurance comes to the rescue. We also dispel the mysteries of title theft and the continuous protection title insurance offers long after your mortgage is cleared. For those caught in a tangle of family property transfers or quitclaim deeds, fear not. We are ready to help you secure or reinstate your title insurance. So, reach out for a consultation, as we're eager to ensure your passage to safe and secure homeownership is as smooth as possible.
Jayne Boyle
Stewart Title and Escrow - Everett WA
Business Development Manager
Jayne.boyle@stewart.com
1-425-344-5426
And welcome back to Getting your Edge how to Right-Size your Home and Life podcast. I'm Dennis Day, your co-host, and I am with Judy Gratton, our other co-host. How are you today, judy?
Judy:I'm good, dennis, how are you?
Dennis:I'm doing well and we are with Jane Boyle of Stuart Title and we're going to talk about why you need title insurance, what it is and some other things that have been popping up. There's services that they're offering that probably aren't really necessary to protect the title of your property. So let's get going, Jane Boyle, tell us about yourself and Stewart Title Escrow and a Stuart Title and escrow.
Jayne:Well, good morning Dennis and Judy. Thanks for the invitation to share about title insurance. So again, my name is Jane, I'm with Stuart Title and I've been in the title industry with the same company for almost 30 years, so, as they say, I've seen a thing or two. Stuart Title as a whole. We're an international company. We cover a lot of different demographics, specializing from first-time homebuyers to downsizers. So pretty excited to share some of my knowledge with you and your podcast, yeah well downsizing is what our podcast is about, so thanks for being here.
Judy:I have to give Jane a little bit of a plug, because she is our favorite title rep here in our area. We use her all the time.
Dennis:And she has a great staff that we love working with.
Jayne:Yes, thank you. They are the best.
Dennis:Yes, thank you, they are the best. So when you're ready to buy or sell a home, the title is pulled. And why? What is title and escrow?
Jayne:So title and escrow are actually two separate entities. You mentioned pulling title and we do that as soon as somebody is getting ready to sell their house, and that's called a preliminary title. Once there's a buyer, we convert that to a full title. And so, briefly, title insurance is like a safety net for your home's ownership. It protects you if there's any issues that pop up with the ownership. And when you sell your home, having title insurance ensures that the buyer is getting a clear ownership of the property. And you mentioned escrow. Escrow is where we're a neutral third party. So when there's a buyer and seller, we take written instructions from their agents on how to proceed to a smooth closing.
Dennis:And does this title insurance carry through the entire time you own a property?
Jayne:It does. Unlike regular insurance like car insurance, homeowner's insurance, this is something that you only pay for once. It's not a revolving payment. When you sell your home, you pay title insurance for the buyer and the buyer pays title insurance for their lender. And again, it's just that one-time payment and it carries all the way through until the sale of the property.
Judy:And generally what it covers is everything up until the day of closing, for the most part. So it looks at what happened up until the day you bought the property, correct?
Jayne:That's been correct in the past. The last few years there's been some transition to what we would call the default title policy and there's a little bit more homeowners coverage in there. It can provide some egress and ingress issues, encroachments, things that may not have been covered in the past, so there's a window available to take care of those things after the transfer of ownership.
Judy:So something like the neighbor coming over after you buy the house and telling you that the fence is on their property. Would that be the sort of thing that under the homeowner's policy, would be covered? Yes, yep, and would help to pay to get the fence adjusted back to where it belongs, something along that's just like a real simple.
Jayne:It would depend on the situation. I wouldn't go out there and say that title insurance would pay to have it fixed. We would negotiate and make things right.
Dennis:And how does the title insurance protect the seller, especially, you know, in the context of downsizing?
Jayne:Good question. Well, when you're downsizing and selling your home, title insurance makes sure that you're not held responsible for any past issues with the property's ownership. And typically when someone is downsizing, they're looking to make their life simpler.
Judy:So it gives both you and the buyer peace of mind knowing that the sale is safe and secure part of what the title insurance policy cleans up and takes care of, because they'll ask for the death certificate correct to confirm that that person is dead, and so they're taking all those what we call clouds on title off of the title so that it's nice and clean to the day of closing for the most part and then a few things that might be covered after. Is that right?
Jayne:That's absolutely correct. What we do is we request a death certificate. In this situation, if there was a will and probate, we would need to have the executor's information. If the person passed away without a will, we can assist with what we call a lack of probate, which, if there's not a lot of assets, if it's just a house and some personal effects, that saves so much in attorney's fees, and that's something that we help with at the Title and Escrow Company.
Judy:I don't think people really understand or realize the importance of having that until they're knee deep in you know what and really need it, and even then I think they forget that they have it. I think it's really important for people to understand what a title policy is.
Jayne:It's an insurance policy protecting you and the home from the day and the heirs Judy in the situation of downsizing and perhaps a death, we also look out to protect the heirs. We do a lot of due diligence to make sure that if there are any family members that should be deserving of being notified, we do that as well. We're kind of part detective, part bean counter, but we take care of all of that during the process.
Judy:I know years ago I had a gentleman who was going to sell his home and he and his he had been married and his wife had two children and they had divorced and they had never cleaned up the title. So her name was still on the title. She was dead. He had both names on the title. She was dead. He went to sell the house and her family members came in and wanted their half of the sale.
Judy:So there's so many things you just don't know until you're in it what could conceivably go. And another one I had and this was a new construction and it was one of the first title reports I ever looked at. I opened it up and there were 14 mechanic liens and that's when the builders it was new construction and it was on a cul-de-sac and they just kept moving the liens. And this was the last house there were more liens owed than what the purchase price was on the home. I got to be the lucky person to go in and negotiate all those mechanic liens down so that the house could actually close, and I got it done.
Jayne:Yeah, good for you, Good for you. With mechanics liens they're only valid for 10 months. So sometimes contractors or the subs ex-liens they're only valid for 10 months. So sometimes contractors or the subcontractors will just lien the property straight away, even if the contractor, the builder, has paid, and they disappear after 10 months. But if there's a sale between that time, oftentimes we'll go in on your behalf and your buyer's behalf and ask them to remove the liens if they have been paid. So we do that negotiating too. These had not been paid.
Judy:That's why I got to go and help negotiate, so we could close on the house.
Jayne:Hey, I may hire you to do that. That was a good job.
Judy:No, thank you, that was no fun.
Jayne:Once in a lifetime, yeah.
Dennis:Are there potential issues with title of a current home that we should think about before we go into downsizing?
Jayne:So yes, Dennis, great question. That's why we recommend, when you're starting to think about selling your home and talking to your trusted real estate agent, you should always pull a preliminary copy. It's no obligation. We typically don't charge a cancellation fee and what we do is we go in and we look at anything that could affect the property things that you may not even know about old debts, claims, Sometimes there's DSHS if there's been hospice. Those are the sorts of things that we go in so you have a very clear picture of what your title looks like and then we clear those up throughout the escrow process once a buyer has been found.
Judy:What happens if there are undisclosed liens or claims against the title after the sale? So it sneaks in under the radar and suddenly they find out that a lien was on the house and it wasn't found in that initial title search.
Jayne:Yeah, so that's a two-part question with two completely separate answers. If there was a lien or a debt or something against the property that wasn't recorded, we have to go back to that seller and figure out how they're going to handle it Oftentimes the person who placed the lien. If they didn't record it, they're kind of out of luck. If it was recorded and the title company during the examination period missed it, well, we'll take care of it. If it was recorded in public record, we'll fix it at our expense.
Dennis:Can you explain the difference between title insurance for the lender versus title insurance for the homeowner?
Jayne:Yeah, absolutely. Lenders. Title insurance protects your mortgage lender because they've put a lot of money out there for your mortgage, so they don't want their asset to be devalued. So the buyer pays the title insurance for their lender and the seller wants to protect the buyer from having any issues with that. So the seller pays for the buyer's coverage and again that covers the entire ownership period for the new purchaser.
Dennis:So when does this payment take place?
Jayne:The payment takes place at closing, which is also known as escrow or the settlement, and we do a settlement statement for both the buyer and the seller and all of the costs are spelled out. They legally have three days to review all of it, talk to their agent, talk to their lender to clarify. So when they actually come in to sign their papers they've looked at all of the costs involved and make sure they're correct to what their understanding was in the beginning.
Dennis:So this is part of closing costs.
Jayne:Part of the closing costs.
Judy:Exactly Right, so what steps are involved in the search process? How do you find these things that are being attached to a title?
Jayne:that are being attached to a title. Yeah, so initially I'll kind of start from the beginning. When an agent contacts us to say I'm going to be listing this home, I would like to open preliminary title, we immediately go in and we run the seller's name in case there's anything against the seller. Those sorts of things can be child support, things that may not be talked about right when you're first meeting with the seller that there's some things in there that may not be comfortable. But we go in.
Jayne:Anything that's a public record we can access and those sorts of things mentioned against the seller is public access. So we go in and we pull the information on the seller. Then we go to the tax department to look at taxes to see are they up to date on their taxes, because obviously a home can't be transferred unless the taxes are all up to date. And then we look at the property itself and make sure that we have the. Is it in a subdivision, Are the dimensions correct? If it's rural property, does the legal description meet the criteria for getting homeowners insurance? And then we go in and actually look at the plat itself, the subdivision, to make sure the homeowners insurance is up to date, because a buyer does not want to go into a homeowner's association where they are owed money.
Jayne:It's not pleasant and we put all of that together and it could be a two-page report. Sometimes, if there's a lot of things to do with the property and it may not be against the seller or the actual house against the seller or the actual house, but it could be things like electrical easements, road easements, water rights, shared road agreements we go and pull absolutely anything that could be affecting the property. So that's what the title officer does, and then we pass it on to the examiner who puts it all in a very easy to read template. Once that's all laid out, we send it to an underwriter who takes a look at the risk and I will tell you there's very, very few that don't make the cut. That's kind of the four-step process to get to the end of the title.
Judy:So once the underwriter looks at it, you have that area in the title report that comes out that says special exceptions, or I can't think of another word for that right now. But there are things that the title insurance policy would not cover, such as electrical easements. I mean, we all almost all homes have them. They're underground but you're not going to insure against them because they're there already and they're not going to go away.
Jayne:Exactly. We just lay it out so that, say, the front two feet of your property is where all the easements for that street or cul-de-sac run. We just want the incoming buyer to know that at some point somebody could come out and work on it. That's their right. So PUD, which is our local electrical company here in Puget Sound Energy as well, If they come out and want to work on it, they have the right to access it. So we just put it out there. It doesn't affect the property and it's only for the good right.
Judy:Everyone wants their electrical to the mailbox for the property behind it. But then the property behind it got developed and they built a road on that on the other side of it, and so they moved the mailbox to that road. But the easement never got removed. So that was one of the things that that popped up, that there was this easement for egress, I guess, to the mailbox. But nobody used the mailbox anymore. Those sorts of things. If an owner wants to, they can go in and actually have that type of an easement removed, most likely, but don't they have to go through the court system, I think, to do that?
Jayne:Not necessarily through the court system. You can talk to a real estate attorney and he will negotiate, or she will negotiate with the two owners, the one that gave the easement and the one that accepted the easement. And if they say, oh yeah, we're not using it anymore, the real estate attorney, for a very nominal fee, will file a vacation or to vacate the easement. And it's funny, you mentioned Mukilteo. There were so many easements in Mukilteo that ran between the alleys.
Judy:Yes.
Jayne:And there was a period of time, I want to say back in the late 80s, early 90s, where those all got cleaned up. But we still see some, like you were saying, people who negotiated them private party-wise.
Judy:If you're downsizing to a smaller property, will the title insurance process be any different than what you did when you bought the home you're currently in now?
Jayne:No, it will be basically the same, exactly the same process. Nothing from title insurance follows the seller to a new house. So it's not like you're getting three lines of insurance or you're getting a discount. Everything stops and starts again.
Judy:And how long is a title policy good for?
Jayne:So the entire ownership period for the buyer and for as long as there is a mortgage, that mortgage coverage is valid.
Judy:But if they refinance don't, they have to get a new policy, because now you have a new lender or a new loan, so you have to have a new policy from the date that that goes into effect.
Jayne:Yeah, and that's a great point out. Thanks, judy. Yeah, if the mortgage changes, even if it's with the same lender, you buy a new title policy for the lender and it's usually at a reduced rate. It wouldn't be at the same rate as when you took out the first one unless it had been like 30 years, 20 years, because everything these days is recorded and found and at the push of a button we can see the old title policy. So we can roll some of that over. So it's usually at a reduced rate when you refinance.
Dennis:Okay, how much is a title insurance during a sale for a seller going to cost? Is it a fixed rate or is that based on the size of the home or property or the age of the home?
Jayne:None of those come into play. It's based on the sales price For the seller. They're paying the buyer's coverage, as we mentioned before. So it's based on the sales price For the buyer. They're paying for their lender, so their portion is based on the size of the mortgage, the price of the mortgage.
Dennis:The more expensive the property, the slightly more expensive the title insurances.
Jayne:Yeah, and each title company is different. Just FYI, we have to file rates once a year with the insurance commissioner and we publish those rates and I, being a marketing executive, I have nice printouts that I can provide for buyers, sellers, agents, and it spells it all out and those are pretty much non-negotiable. The insurance commissioner, like I said, wants us to file once a year, so they're fluid every year.
Dennis:Are there any additional costs associated with title insurance that we should be aware of?
Jayne:There might be, and that would be for your typical residential sale or purchase. No, there's nothing. They're usually fixed Occasionally. There'll be a property that might need an endorsement minimal rights, riparian rights, different things like that. There may be a small endorsement to cover those. Title companies also vary by their inclusion of things like a mobile notary to come out to your house or your place of business Document prep. Some companies would charge to prepare documents, which sounds a bit of an oxymoron, right when you're already paying for the escrow process. So, apples, you know you need to compare. If you see one company that offers this rate, definitely compare with another, because you may find it's a different rate.
Judy:But aren't they sort of regulated, at least in the state of Washington, by our insurance commissioners? So they aren't giant differences.
Jayne:They're not giant. No, they're not giant differences. And I'll give an example like Stewart Title, when we filed our rates we included everything I just mentioned. So we don't have any separate line items for a notary, for document prep Recording fees we do. That's a whole separate charge because that goes to the county. But then some other companies will charge the rate that the insurance commissioner has agreed to, but then they'll add other add-ons. Like they'll charge for a notary, they'll charge for doc print.
Dennis:I had a question. I'm taking a course in fair housing and some communities all over the United States had covenants that redlined this term for exclusion of protected classes Perhaps women, your marital status, race, national origin, etc. What happens if there is still a covenant like that that discriminates in a title? What do you do to clear that out?
Jayne:Were you sitting in my class yesterday, dennis. We had this. No, seriously, I had an agent send me a very, very old deed that had been part of a title package that I had just sent her and she said, jane, look, there's the exclusion for race in here and it was only allowing one particular race in that neighborhood. And I remember back in the day we would go through and just take a black line, clear it out, take it to the courthouse and have it recorded. These days we're not allowed to take those out, but we do have a paragraph in every single title policy that we send out that says anything that is illegal alludes to these sorts of things Race, sometimes it was religion. We can't redact it, but we do have a disclosure at the bottom that none of that is enforceable.
Judy:Some of those title policies go back to the 1800s. I mean, some of them I've seen really go a long way back, because that's the whole idea. You want to go back as far as you can find anything to make sure that it's all clear, right.
Jayne:Yeah, absolutely. And back in the day this is a little bit of title geekness here for me In our basement at Stewart Title we had little tiny files they were probably five and a half by eight and inside each of those files was every recorded document for that property. We had hundreds of thousands in our basement and so we would go down this is I'm aging myself when we were doing the examining we would have to go down and pull that little file and go through it and make sure there were no clouds or missing pieces to the title. And thank goodness when we became more technology involved we had scanned all of those little folders into our computer system. Because the following month our building burned down oh my gosh and we lost most of those little files.
Jayne:We were able to save some, but they were so water damaged and so anyway funny because these days you don't need to scan through as much because you can see the chain of title, but back then you had to look at every deed. Some of it was just amazing, like some of the things, you just couldn't wrap your brain around what was put in writing. That points out the importance of, if you're representing a buyer, to call me or call our customer service department and say, hey, can you shoot me over a copy of those CC&Rs, especially if your clients have RVs, boats, work trucks. Those work trucks are a huge thing. Some communities will not let you park your work truck in your driveway, so yeah, those things are so important to look at driveway.
Dennis:So, yeah, those things are so important to look at. Jane, can you provide us some examples of situations where you had to provide invaluable information to sellers to make this home sale complete?
Jayne:There's a lot. There's a lot of situations, but I'm going to tell you one that kind of blew all of our minds at one point Years ago must've been late 90s, early 2000s South King County was just blowing up with new construction right and this builder had a cul-de-sac with six lots on it and we were his preferred title company. He combined lots. He wanted to have bigger property, so he had lots one, two and three as one, four, five and three as one, four, five and six as another, and we opened title on both. He gave us a purchase and sale agreement and said this is for the lots one, two and three. I'm building this house. I have a buyer. So we closed on it.
Jayne:About six months later the people who were living in four, five and six the house that was over there got a knock on their door saying get out, I bought your house at a tax sale. Oh no, what had happened is the builder told us and wrote in and got the legal description for lots one, two and three, but he built on four, five and six, and one, two and three went into tax foreclosure. But because the legal description was connected to the house, the people who bought the property at the tax sale had the rights to that house.
Jayne:But they didn't because they knew what they were doing, but as a title company we stepped right up. They filed a claim. We were able to go back and say, obviously this was a clerical error. We did pay the people who spent the money at the tax auction what they had spent, plus a little bit for their pain and suffering, and then we also reimbursed the homeowner for their fear that they were losing their house. So that's probably one of the biggest things that we've taken on. But there's smaller things, you know encroachments, heirs that were not found, that were owed money. But that was a big one, that was huge.
Judy:And there was back in the economic crash in the early 2000s there were people who were going out and recording things against properties and I think it started this huge. People are still advertising now fear of having their title stolen. And I know the first time I heard it, I think I reached out to you and I was like is this something new? Is this something that we need to be concerned about? Can you talk a little bit about title theft? I guess one would call it.
Jayne:Yeah, absolutely so. In our area and I think nationally it's called it's a company called Title Law and in premise it's a great program, like they will monitor anything that gets recorded against your property at the courthouse. In theory, it's really not necessary and they do charge and I can't remember if it was a monthly fee or a yearly fee but anything that you pay that's not necessary is a waste of your money, right? So in theory, it was a good program until, as a title company, we started digging deeper and doing our research. And what we tell our clients who are concerned about that is if anyone records something against your property that you did not agree to, it's fraud. And what's the number one thing? That your title insurance covers Fraud. So if anything got recorded, whether they took out a loan, that's fraud. They're not the owners. I don't know how they would get a loan from a lender, but you never know these things right. But anything that would occur like that, we would step right up, our fraud department would be on it and you would be made whole.
Judy:I think for a lot of people that are looking at downsizing, many of them have paid off their homes. People that are looking at downsizing, many of them have paid off their homes and it's my understanding that's what these fraudsters are looking for are homes that don't have mortgages on them and then they're trying to record against a loan against that property. But you're saying that that's what the title insurance covers.
Jayne:Yeah, it would be either title fraud or identity theft, and those are the two main things that we would go after to make everything right again, because it's completely fraudulent.
Dennis:So how do they complete this? I've heard of people just come in, write a quit claim deed on a property and pretend that they own this thing. Is that what's happening? That's what's happening.
Jayne:They're going in and they're recording a quitclaim deed on a property and pretend that they own this thing. Is that what's happening? That's what's happening. They're going in and they're recording a quitclaim deed and then they're going to try and take a loan out because they want the money. But to take a loan you have to have title insurance from any valid lender. If they were using a hard money lender who they were in cahoots, then both that lender and the person who was filing the false quit claim deed would be found to have committed fraud. So your property is always safe if you have title insurance. And even if you pay off your mortgage, people think, oh, I don't have the insurance anymore. But remember, the seller paid for the new homeowner's insurance for the entire lifetime that they own that house. So you will always be protected and we have full departments that are. That's all they do. Is they fix these things? These?
Dennis:things. And if a homeowner was deeply curious and had to know what was really in their title and maybe they couldn't find the paperwork in their home, could they call you and ask hey, can we?
Jayne:have a copy of our title? Oh, absolutely, absolutely. And what we can do for people as well? I mean, we can get the old titles, we always have access to those. But if they're not quite sure who their title company was and they just want us to take a look at anything that could be affecting their title from a general point of view, they can just call me or their real estate agent, dennis Judy. If they reach out to you, just call me and we do what's called data trace. So we plug in all their information, push a couple buttons and anything that's been recorded whether it's taxes, liens, mortgages will pop up on there and we can, you know, allay their fears that everything looks great. Or if there's something there, then we address it with them. So can we for that? No, there's no fee to do a data trace. No, there's no fee to do a data trace.
Judy:Can we have your contact information for the podcast? That was the state of Washington, right.
Jayne:I represent the Puget Sound region but, like I said when I made my introduction, we're an international company. In fact, I was in Costa Rica a few years ago and drove past Stuart title of San Juan, costa Rica, so that was pretty cool. But yes, so if anyone wants to take down my information, I am Jane with a, y, j A Y N E, last name Boyle. I can be reached on my cell phone 4, 2, 5, 3, 4, 4, 5, 4, 2, 6. 5, 3, 4, 4, 5, 4, 2, 6. Or my email is my first name J a Y N E, then the dot, and my last name B O Y L E at stewartcom, so that's janeboyleatstewartcom.
Dennis:Perfect, put that in the description of the episode so it'll be easy for people to find, and the transcript.
Jayne:Excellent.
Dennis:Anything else to add, Judy or Jane? I?
Judy:can't think of anything. I can talk about it for hours because I didn't ever really understand it myself, but it's quite fascinating what comes up in title insurance searches.
Jayne:And, yeah, we actually have classes on all these different subjects for title and I come across new things all the time. So any questions that you have general public real estate agents, call me. We always dig deep and get you the answers.
Dennis:If you're really interested and want more information about your title, just give Judy and I a call, or Jane call, and we'll get it going, and it really doesn't take very long. You know a day or so, right.
Jayne:Yeah, yeah, absolutely. And if we find something that needs deep diving, we've got all the staff for that, so it never takes more than a day or two.
Dennis:I think that's it. Thank you so much, Jane, for interrupting your dog sitting.
Jayne:Oh yes, my dog sitting, the pooch, the pooch Over there.
Dennis:Thank you so much for being here. We really appreciate it and I think this will give some comfort to people who are thinking oh, I need this title lock as a subscription.
Judy:You don't, you've got it. Not as long as you have title insurance.
Jayne:Yeah, and I would say 99.9% of the people do have title insurance occasionally and I should have mentioned this occasionally, if people within a family quit claim to each other, they may not have title insurance. And if people are listening and that's your situation, call me, call Dennis, call Judy, and we can walk you through that, to how to reinstate it. It's not a big deal at all.
Judy:Because it's changing that ownership by quick claiming. That cancels out the policy correct.
Jayne:Exactly, exactly, very, very few that happens to, but if it's you, we're here to help.
Dennis:Thank you both so much. This has been Getting your Edge how to Right-Size your Home and Life podcast. Judy and I are always available for consultation on downsizing or any other real estate need. We'd love to hear from you. Thanks so much. See you next episode. Bye-bye.
Judy:Thank you. Thank you, dennis, bye-bye, bye.
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