Sunday, April 28, 2013

Protect Your Valuable Asset

Your house is one of your most valuable assets.  To prove that you own your house some day (like when you want to sell your house), you need to show your deed of ownership.  If you lose your deed of ownership, this could be a problem.  To help protect yourself in case you lose the original deed document(s), you might want to consider making an electronic copy of your deed document(s) and keep them on a CD, DVD, flash drive, folder on your computer, cloud storage, etc.

If you happen to have your deed document(s) in a safe deposit box, you should know that the safety deposit box is not FDIC insured.  So, if there is a flood in the vault where you safety deposit box resides and ruins your deed document(s), the damage is not insured and you may have a lot of difficulty and expense getting new deed document(s).  So the above mentioned electronic storage options may help you retrieve the deed document(s) more readily and possibly at a lesser cost.

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