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Ask your atty about if filing a lis pendens is an option for you.
Good suggestion. Filing a lis pendens would definitely be a good idea if they are going to file a lawsuit to require specific performance. However, if the OP is not going to pursue a legal challenge, then filing a lis pendens could potentially be considered a slander of title. It's good that the OP has an attorney to help them review their options.
When you demanded changes to be made to be able to close the contract to suit your needs, you altered the contract.
We did not change anything, and demanded nothing. We only were trying to buy what was offered for sale, and title insurance would not sign off due to the issue on the deed. They will encounter same problem with new buyer, but it may move a bit faster as our 'team' did all the legwork in finding a resolution. By relisting with our amended contracts in hand (which actually were agreements to the sellers changes), they were operating 100% in bad faith.
Quote:
Originally Posted by jackmichigan
What changes are you referring to? Although it is unclear from this thread the exact nature of the title issues, it is generally the Seller's responsibility to provide clear title.
Thank you. Yes, no "changes" per our direction were involved. Definitely planning on the lis pendens (and subsequent legal action). But hoping big time to avoid that.
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The deed issue says that the property cannot be conveyed due to restrictions within the subdivision and its roads. Its complicated, but we did, in the end, find a way around the deed problem (for us. New buyers would start from scratch). Not entirely sure how they managed to list it in the first place, but, I digress.
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I'm not a lawyer; I don't play one on TV. And I didn't sleep in a Holiday Inn last night.
So are you saying the deed comes with restrictions saying the property can never be transferred to anyone else? I don't mean to sound obtuse, but someday the owner will pass on and leave an estate that can't be settled. I'm really confused here why this would be and even more confused why a real estate agent would try to sell something that can't be sold or someone would try to buy?
If there is a deed restriction that the property cannot have title transferred to anyone else, it sounds like the owner may only have a [U]life estate[/u], and then property would possibly revert back to previous owner or their estate on the current owners death.
In a life estate situation, there will be other documents held by the previous owner, that at time of current owners death to be filled at current owners death to revert title back to previous owner or their estate.
If you have not been in contact with previous owner to find if they still have legal rights to the property, prior to spending more time and money. If they still have rights to reclaim the property, suit against the seller would be dismissed as he has no right to sell to you.
If he only owns a life estate, he legally cannot sell the property. He may know this, and could be the reason he did nothing for so long.
If I was you, I would have my attorney contact previous owner, to find purpose of deed restriction for ownership not being transferable.
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