@Rahul Sunkavalli  title insurance protects lenders against any property loss or damage that may come up because of liens, encumbrances or defects that may pop up.

Often times they just owe too much and are unwilling to let it go for a loss.  

I could be getting 1600/ month and the family only pays 800 and that is cost so when repairs happen its a loss for me:(2. talk to a title company and then can do the papers for you you will avoid some taxes as it is directly to family :) quick simple and easy part is TITLE GOOD LUCK   

To give a little background on this property it was recently remodeled top to bottom and although it looks really nice and a lot of items are new the quality is of average building material. 

.  :-)The window coverings came in today, and I have a couple of other decorative items on order.  

@Lacie GilbertYou should document how you intend to split profit and loss. 

A luxury item.

He would let me know items had been completed only for me to find that they had not been when I went to the property.

It makes a little bit of difference on big-ticket items, like buying a car.

With no savings any little blip of reduced hours and loss of income and they are toast.