Chris the suit can take anywhere between just 2-3 months or as long as 6 or 7 months. It will depend on the level of contestability of title. If the suit is uncontested then obviously it will go very quick. Essentially the attorney will attempt to notify other potential claimants. Notification will be posted in periodicals and anyone who might have a claim is notified. As I said the amount of time will depend on the level of cloud on the title and who gets involved.

2. Are there Title Insurance companies that are known for offering title insurance before 2 to 3 years has passed, so that I could avoid filing suit? If so, would you be willing to provide a list of these companies? Chris, I used to work with a title company that would issue title insurance on properties without a suit. They have sadly stopped this practice. As costs become tighter the level of risk they are willing to endure has gotten lower. The suit to quiet title is for the most part always uncontested and it only costs about $300 to $500, therefore if you can just wait a couple months you are fine.

3. If a tax lien property owner can find title insurance in the first 2 to 3 years without initiating a Suit to Quiet Title, will it be significantly more expensive than it would be if the property owner waited 2 to 3 years?

This does appear to be the case. The cost of the title policy will depend on the potential risk that the underwriter must bear to insure the property. Since a tax lien property will be a bigger risk to the underwriter they then will require more of a premium for taking that risk.

Again, I would not worry too much about this. You can lease the property out, or use a lease with option to buy. If you want to get cashed out, then what we do is pay for the suit to quiet title and then just wait for it end and then get cashed out of the property.

Please let me know if you have any other questions. Sorry for the delay in getting back to you!

Warmest Regards,

Darius M. Barazandeh, JD/MBA

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