What they are not mentioning are the outstanding liabilities of that LLC.

Title insurance provides the financial backup to the warranty deed, and requires a title search to verify that no other claims, encumbrances, easements, or liens on the property are outstanding. 

Remember, one condition that forces people into forclosure is that the house is worth less than the outstanding loan amount.

The outstanding balance of the loan is automatically converted to equity when a later equity investor appears, under terms that are governed by the terms set by the later-stage equity investor.

The city attorney was rather amazed, saying that's outstanding, you can fine them for non-compliance and that still falls within the rent guidelines.

When I requested fleet utilization records to verify they had in fact rented all the cars in that class and were missing out on revenue because this car wasn't available, they backed down.Your discount is not indefinite, I'm sure.

Making sure the water bill was taken care of when title was transferred was most likely the selling agent's responsibility, and would have included actually contacting the city to confirm any remaining billiing outstanding.

Once I pay off the outstanding loan, after 2 days, I have to let the sheriff know?

Outstanding responses, thanks for all the info everyone!

You are a 5% owner if you own (or are considered to own) more than 5% of your employer's outstanding stock, or capital or profits interest.