Is a Title search/policy transferrable? - Posted by IB (NJ)
Posted by IB (NJ) on September 12, 2003 at 15:31:46:
Hi all. I’m trying to close on a double closing where I’m buying at $53k and simultaneously selling at $65k. However, I have reason to believe that my buyer (Buyer A) suddenly may not be able to close (long story…but the signs are there).
In any event, I’m considering cancelling the deal and going with another buyer (Buyer B) if Buyer A doesn’t come to the closing table in a couple of days.
As a courtesy, I ran a title search on myself and the seller and had it insured in Buyer A’s name (paid for it as well). Shouldn’t I be able to transfer the title policy over to Buyer B so that he’s insured and thus quicken a closing with my new Buyer?
Thanks in advance.