TITLE AGENT LIABILITY FOR ERRORS AND OMISSIONS AND TITLE INSURANCE


Source: TITLE AGENT LIABILITY FOR ERRORS AND OMISSIONS AND TITLE INSURANCE

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I rant about issues concerning foreclosure, real estate law and any topic of interest. Normally my day job is Fashion and Costume Design. I like writing and reading interesting subjects.
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One Response to TITLE AGENT LIABILITY FOR ERRORS AND OMISSIONS AND TITLE INSURANCE

  1. Joseph casper Henry says:

    Dear Mr. Kenny; We bought a property in 2005 in New York. We found out about over a year later that, Con Edison has a utility service manhole on the property and therefore has ease of access and we never was told.The hole was covered under the lawn and the service men could not even find it when they came digging to find it. When we informed our lawyer, he said there was no such thing on the title search and we would have to do a survey to find whether its on our property. Now this hole is enclosed by the property walls that surround the property,so we asked how could it not be on our property? Unless someone took in land that was not theirs and sold it. We wrote to CON EDISON and they said that they are not aware that the service hole is on our property. Now we don’t have money to pay for a survey of the property because we have to contend with Ocwen and our mortgage. Now, if even though the survey is done and it proves that the service hole is not on our property.It is clear that we have been given an unfair deal here, we cant use that part of the property if we wish to extend our building on that side. We paid for that because when it was shown to us, it was presented with the enclosed walls being the property boundary line. If we were told that there was that hole there, we would not have bought the property, because we see that part of the land having future possible extension of the building.With the hole there we cannot and we believe since it is now revealed, the value of the property has been affected. What can we do? is there any legal recourse with Con Ed or the title company or our lawyer? Thanks for your advice. Henry.

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