In this episode of the Planet Money podcast, the focus is on the weaknesses in the US land ownership system. A real estate developer unwittingly purchased a property from a title pirate who fraudulently sold land they didn’t actually own. This legal struggle reveals the fragmented and inconsistent way land records are maintained across various jurisdictions. Although title insurance can be costly, it serves as an essential, albeit flawed, protection, ultimately compensating the developer for their losses while also highlighting the risks and ethical dilemmas present in the system.
