We provide a free CARFAX report with every vehicle and we never sell a vehicle which has had a prior serious problem or title defect
That's what the gas company would refer to as a title defect
, or an uncertainty in the chain of title," Grayson said.
If a title defect
is discovered and must be cured before the property can be sold, the seller will often make a claim under its title insurance policy and want its title insurer to cure the defect as quickly as possible to avoid a loss of the sale and any decline in property value.
InMay 2007 he was fined pounds 2000 for failing to reply to a solicitor or the LawSociety in relation to a title defect
involving two properties.
Courts throughout the United States have generally identified three points in time to use to measure damages within a title policy's limits in connection with an owner's loss of title: the date of purchase of the property, the date the title defect
was created, and the date the defect was first discovered.
Two weeks into the closing the sellers' attorney Steven Greenberg informed them about the title defect
and handed to file over to Fidelity Title to work on clearing the title.
15) Shada then held that the title company was required to remove the title defect
without insisting upon an "actual loss," an "unworkable term" according to the New Jersey opinion cited by the court.
His practice encompasses a wide variety of real estate issues, including foreclosure and eviction proceedings, partition actions, boundary disputes, title defect
resolution and contract drafting.
5) The buyer wants to close on the residence he is purchasing, notwithstanding a slight title defect
For example, if the insured is a land developer whose project is halted because of a title defect
which the title insurance company seeks to resolve by litigation, is the title insurance company liable for the mortgage payments, redevelopment costs, lost interest, lost profit, and the like resulting from the delay--even if the title company is ultimately successful in its curing litigation?