Posted by D O Thorn on January 28, 2000 at 24:44:41:
Nations Title is who you had the title insurance with? If so they are responsible for seeing that the property was free and valid . If it were me I would be setting the road on fire getting to a lawyer , to sue Nations Title Butt off!!!
Ambushed by Mortgage Co & Title Co. - Posted by Rita Grant
Posted by Rita Grant on January 28, 2000 at 24:26:40:
In 1996 I bought a home. Ameriquest Morg. was the lender and Nations Title insured the prop with the Morg.Co. In Feb. of 1999 I was attempting to refinance and learned of another person on the title with 1/2 intreast in the property. It appears he was not left on the title as a exemption on the title insurance policy. Now Im being told by both the Morg Co. & the Title co that nobody has a Owners Policy on the property. The house was awared to the owner I bought the house from in the divorse. But her husband was never properly removed from the title so he now has 1/2 intrest in my property. Where do I stand here? What are my rights as a consumer? I did not go through a Real Estate agent. Do I have any options? I dont want to damage my credit by walking away.
Re: Ambushed by Mortgage Co & Title Co. - Posted by Jim IL
Posted by Jim IL on February 18, 2000 at 04:01:32:
Rita,
First, a question like this should be posted to the other board.
But, since it is here, lets take a stab at it.
AS said previously, the divorce agreement said that the husband was to relinquich his rights to the home.
There should have been a “Quit Claim” deed signed by the husband.
There may have been one, and it was not recorded.
Go to the courthouse and pull the file. It is public info, and you can view it.
See what the file says about the “quit Claim” deed?
If there was to be one, simply call the attorney up and get it recorded.
If there was none, try to contact the husband and have him sign one now, or have his attorney do it.
That is all that is needed.
Also, get out all the docs from your closing, and see if you had title insurance for you, not the lender.
If you did, it is time to call the title insurance company and get them into action.
If you cannot get it done, pay a lawyer $100 for a quick letter advising them to remedy the situation or you will seek any and all legal remedy.
Many times the threat of action makes them move.
Good luck, and please post any results to NG 1, so others can learn from your experience.
Jim IL
Re: Ambushed by Mortgage Co & Title Co. - Posted by JD
Posted by JD on January 29, 2000 at 19:06:09:
You’ll need to get an attorney involved to sort out the issue of why the Title company is denying that an owner’s policy was issued. But, before you sue the Title company, there may be a simple solution. It is probable that the divorce Court file contains an order from the Judge that the exhusband is to give all rights in the property to the exwife. Evidently a Quit Claim Deed (exhusband to exwife) was not executed and/or recorded per the Divorce settlement agreement. If this is the case then your attorney should be able to put enough pressure on the exhusband to get things straigtened out without much expense.
Re: Ambushed by Mortgage Co & Title Co. - Posted by Chris
Posted by Chris on January 28, 2000 at 04:04:38:
Rita-
When you purchased the property did you buy an owner’s title insurance policy or was the lender the only party who purchased a title insurance policy? If you did buy an owner’s title insurance policy get your paperwork out and raise hell. The title insurance company will have to pay the claim.
The lack of a realtor does not matter. The title insurance company looks like they did a sloppy job doing a title search and they will have to pay the claim. However, it is important to know if you had an owner’s policy or not.
You may want to post this on the main board over at:
http://www.creonline.com/wwwboard/index.html
The board you posted on is the guru question board.
-Chris