Abraham Lincoln and his family lost their home, TWICE, due to title issues.
Abraham Lincoln is 16th president and was a resident of Illinois, but his story starts in Kentucky.
Thomas Lincoln, Abraham Lincolns' father, was a talented carpenter and skilled laborer. In 1811, Thomas Lincoln sought more fertile land and moved his family to Knob Creek Farm where he brought property. He purchased a one-room cabin and 300 acres of land for $200 in Kentucky. That is where the Lincoln family's fate took a turn.
The Lincoln's didn't have the "right papers" to remain on the land and someone else had a better claim to it. The family was forced to move due to land title issues.
The family lost the farm after the boundary disputes due to defective titles and Kentucky's chaotic land laws. Land laws were also complicated by the absence of United States land surveys and the use of subjective or arbitrary landmarks to determine land boundaries. He did not have the money to pay attorney's fees to resolve the title dispute, such as liens against previous owners and survey errors.
So at the age of three, Abe’s family packed up and moved. Four years later, Lincoln’s father had to go to court to prove ownership rights again. Abe’s father, Tom, won the suit, but moved his family to Indiana due to the fear of losing another property due to title issues.
The Lincolns devastating property losses could have been
covered under an owner's title insurance policy, if one had been
available back then.
Since 1876 title insurance has been protecting homes and
A home is the largest purchase and investment
most of us make in our lifetime.
Make sure you protect your investment with a title insurance