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Title issue Or Attorney issue

Hi, I'm buying a house and existing title shows right address for the property but references to parcel on outdated map that is no longer valid.I found it at city hall archives and pointed it out to my attorney and he said it's not a big deal,there is a title insurance for such things.The official title search showed the same thing. Day later attorney called and said this issue has to be resolved before buying a house. He sent two letters to seller and got no response.My question is How the seller who didn't see the problem when he bought a house can fix the situation. Attorney stutters about "different ways", can't get straight answer, he is a young guy, probably doesn't have expirience. Does someone have input on this? Just trying to get some info before going to other attorney or pushing mine to get answers. Thank you.
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July 12 2013 - Oxford
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Answers (5)

Best Answer
Your wording indicates that you are already under contract on the home and doing your due diligence to confirm that the title is clear.
This should mean that there is a title insurance company already involved in the transaction and the title rep is the person that you can go to for your next read on how simple (or not) it is to get this done.
You will very quickly find out whether or not the company wants to exclude (insure around) the issue in their policy on the sale.
It isn't a good idea to get a second attorney mixed into the deal as they will ALWAYS have a differing opinion as to how to move forward. If the one you have is inexperienced then he/she must have a supervisor and that would be the alternate person to question.
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July 12 2013
The commitment for title insurance issued by your attorney has a variety of exceptions on it.  FNT (or whoever he's underwriting with) is committing to insure it, yes, except for certain items. The problem is that the bank won't accept these items, necessarily.

FNT can choose to accept the risk and insure over the issue, but on small residential transactions they usually don't.

Alternatively there may be some form of previous insurance which could cover it...

Not having seen the paperwork and not knowing who the attorney is I certainly can't gauge whether or not the correct steps are being taken, but in a lot of cases it does take time. 

Unfortunately you're seeing some of the back side of the business, the part that buyers don't often see (and why they don't understand most of what real estate attorneys do).

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This is not legal advice and is not intended to create an attorney-client relationship.  The post is only an opinion.  You should speak to an attorney for further information.  The poster is licensed only in CT & NY.    If this post is useful to you, please remember to upvote it.
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July 15 2013
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Thank you ,Daniel, for your input. I've asked my attorney what are possible outcomes of this situation and what are the technical ways to get the title fixed. He answered that seller might contact previous owner. What???? The previuos owner was foreclosed and  in jail. It's not gonna help.   I have result of the title search and it statrts with : "Commitment fot title insurance". It points out all the issues and ends with right description of property. I have impression that Fidelity Title Insur Co commited to insure it, but my attorney says we have a problem.  The problem is I need to lock the rate now . Don't know what to do. The attorney would't give me "go" or "no go" answer, just well rounded answers like "they might,ot they might not do it."
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July 15 2013
John Stewart is more or less correct, but the real answer is that there's no difference between the two points in your question.  In Connecticut the attorney *is* the title agent, so they are the one that you need to talk to.  Now, if your attorney isn't experienced in real estate or isn't in some way set up to handle your issue, you may need to find another attorney, but if you do that, make sure the old attorney isn't charging you anything.  You don't want to end up paying two attorneys unless you really have to.

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This is not legal advice and is not intended to create an attorney-client relationship.  The post is only an opinion.  You should speak to an attorney for further information.  The poster is licensed only in CT & NY.    If this post is useful to you, please remember to upvote it.
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July 15 2013
Title insurance will cover the correction for the current owner, it's why you get it, but it covers the cost. It can still take months to resolve as they have to go back and find documents where the problem started and correct it from there which means getting signatures on documents from past owners. Do you think that can take some time? You bet it can.

Have fun and good luck.

tim
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July 12 2013
 
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