Posted by Glenn OH on January 14, 2000 at 08:31:24:
Your contract is for clear title. If you pay for the sister’s probate, it should come from the seller’s side at settlement. Make sure this revision is added to the contract to protect yourself. Remember, the seller owns this problem, not you, so if you do decide to help, you should not lose on that part of the deal.
Title problems - Posted by osirus
Posted by osirus on January 14, 2000 at 02:44:38:
I need advice on how to clear up titke to a property I have under contract. The preliminary title report indicates a brake in the chain of owner ship. Here is the story:
Seller deeds property into a life estate in 1982. The seller’s brother and sister would own the property upon seller’s death; but the seller retains rights of possession. Unfortunately, the seller’s brother and sister predisease my seller. The brother’s will splits up his intersest in the property amongst his children who in turn quit claim their interest in the property back to my seller. The problem lies with the sister. The sister’s husband quit claimed the sister’s interest in the property back to my seller. The title company says this makes title uninsurable because there is nothing in the public records that indicate that the sister gave her husband her interest in the property.
Further complicating matters is the fact that seller lives in a different state and her sister did not know that she was the grantee in the seller’s life estate. Title company rep says that I will need to provide a long list of documentation before this is resolve. If seller’s sister’s estate was not probated, then I might have to have the lawyer at the title company do this for $500. Friday I speaking with the oringinal local attorney which handled the title to see if they have any of the documetation.
Has any one dealt with this before?
Re: Title problems - Posted by Rob FL
Posted by Rob FL on January 14, 2000 at 14:00:00:
Some states and title companies allow for an affidavit of heirs. $500 is pretty reasonable for a probate. Around here it costs thousands. Make sure the seller pays for it.
I think Glenn is right… - Posted by George (OH)
Posted by George (OH) on January 14, 2000 at 11:58:52:
…most contracts state that it is the Seller’s obligation to provide title free and clear (marketable). So this technically should not be your responsibility.