the title company I hired became aware of some guy that has been dead for generations, had a 1/6th interest in my new property. I guess they need t Bear in mind the title company had deemed the title clear, set the closing date and all that happy horse mauer 2 weeks ago. Now at the last minute this. They are trying an 11th hour deal on this, [I guess to see if anybody in the estate of this long dead guy will sign off or settle....if they even exist. I've given my landlord notice, packed my stuff and also I have spent a few grand on this deal [down payment, repairs. I am in it to my neck! Are n't the title people theones who should swing on this. Why would a title insurance company clear a title if their were question to someone even laying claim/ Thanks for any help. Also can I sue the title company for putting me in this position?
2007-05-09 06:23:34 · 6 answers · asked by kokopelli4luck 1 in Politics & Government ➔ Law & Ethics
That is what title insurance is for. They cannot proceed without clear title. I am sure that they are attempting to clear this up, but would assume that it is going to delay closing. The good news is; that most likely the person was deceased before the property owner 'willed it to them', meaning it was outdated will and probate might have already cleared the way, but the information was never correctly filed with the deed information. This may be discovered quickly and then everything can proceed. Just FYI, the closing date is set (or reset) usually well haead of the elements necessary for the closing, where they assume no problem and mostly are correct. In your case, there was a glitch, but I am sure it is a temporary issue.
2007-05-09 07:08:37 · answer #1 · answered by kathbiralibaby 3 · 0⤊ 0⤋
The threat of a law suit will generally yield the result of a settlement. I am sorry to hear of this for you. You now have a vested interest in this property regardless of the error or oversight by some idiot company - I would say fight on this and seek some temporary living arrangements. Keep all of your receipts (as I am sure you do anyway) and place them in a safe place. Due to your being inconvenienced an attorney will try to obtain the cost of the personal loss you have incurred on this. Don't just settle for any attorney either - some just want to get your fees and only push mildly on the matter. Find a SHARK (one that bites as opposed to one that goes after ambulances) that will fight for you. State laws can always be challenged - don't back down and be firm in your resolve.
Best of luck to you!
One last thing - don't take NO for an answer and don't accept anything other than the mere fact that you have now a vested interest in this property. A "no" can always be challenged - there is the "reasonable person" litmus test and face it you have been paying for repairs in anticipation of your move in date which would mean some other "john doe" would benefit from your hard work. Think: Lawyer = SHARK, You = Junk Yard Dog!
2007-05-09 13:34:46 · answer #2 · answered by Gerry 7 · 1⤊ 0⤋
No you can't. This information may or may not have been known to the title company. they may have been trying to fix the problem, but were not able to in time. I'm quite sure it was probably the underwriter at the lender who discovered this and will not pass along a clear to close to the title company. No loan docs will be created as long as this is out there. This is more common than you think and the only one to blame is the dead relative and I suspect the persnickety underwriter. Suck it up, and just go with the flow. Getting upset will accomplish or change nothing.
You may also want to check your contract, I'm sure there is a clause in it in regards to extensions and what not.
2007-05-09 13:33:17 · answer #3 · answered by Anonymous · 0⤊ 0⤋
you can absoulutely sue the title company. They should have had all thier ducks in a row before they set the closing date. You aren't responsible for thier screw up.
Additionally, you have the right to be compensated for your losses: down payment, repair costs, binder fees, plus the fact that you already put in notice to your landlord.
For example, what if your landlord already has a tenant lined up to rent your old apartment. There's a myriad of things you can sue for, but those are just a few. You may definately want to hire an attorney.
2007-05-09 13:31:42 · answer #4 · answered by Anonymous · 0⤊ 1⤋
This is why you have title reports and also an attorney at the closing to make sure everything is fine. Title companies routinely miss stuff like this. Talk to your attorney, a suit should be filed! I would!
2007-05-09 13:30:31 · answer #5 · answered by Anonymous · 0⤊ 1⤋
You may have to reschedule the closing.
That may mean putting your stuff in storage and staying in a motel for a week or two.
2007-05-09 13:29:32 · answer #6 · answered by latest_greatest 4 · 1⤊ 0⤋