Posted on: 14th Mar, 2009 09:45 am
The bank paid previous owner off in 1998 (propert was owner financed in 1989 both original owners may be dead, i spoke to their son). In 2005 i found out the bank released property but did not follow up to make sure previous owner released property.. lawyers they hired said they could not find previous owner and that it was our respondsiblity that we should purchase title insurance...pls tell me what i need to do
Hi lms,
As the previous owners cannot be traced, I also think going for a title insurance would be the best option for you. A title insurance will protect you from any claim on the property in future. You can also consider filing a quiet title lawsuit in the court to remove any 'cloud' over the title of the property.
As the previous owners cannot be traced, I also think going for a title insurance would be the best option for you. A title insurance will protect you from any claim on the property in future. You can also consider filing a quiet title lawsuit in the court to remove any 'cloud' over the title of the property.