April 30, 2013

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When the Teacher Is Ready

Between 2000 and 2004, I had a business called Gilpin Title – a title company primarily serving the mountain areas of Boulder, Gilpin, Clear Creek and Jefferson Counties in Colorado. Most of the larger Denver title companies are reluctant to work in those areas because real property titles are different, and perhaps more complicated, than in the Metro area where there are mainly lots and blocks in subdivisions. The mountain areas were developed by miners and the merchants who followed them, so a title examiner must understand mining claims. There were homesteaders, so he must understand the federal Homestead Act and the Stock Raising Homestead Act. There were towns that arose under federal Townsite Acts.

These more unusual title issues stem from the ways in which land owned by the United States was transferred into private ownership. I was fortunate that I had long been interested in natural resources and had taken law school courses to help me understand the basic legal framework. I had been president of another title company that worked in many of the same mountainous areas. I found that examining the titles of these properties was more interesting than intimidating.

There was a serious downturn in the real estate market during the first months of 2004. The gentleman who was the co-owner of the company, and had the responsibility for the closing and escrow operations, became discouraged and suddenly announced he was leaving the business. I had to quickly decide what phone call I was going to make. Should I call the newspaper to place an ad for a new closer, or should I call someone who might be interested in buying the company? Continue reading →