Legal Question in Real Estate Law in Arizona
Title Error
Had a sale fail due to title to property we purchased showing up in another persons name, our buyer backed out creating a loss for us of about $29,000 + loan fees.
The buyer didn't feel he was getting a clear title as another persons name is showing up as half owner and we do not know who this other party is?
Do we have a case and how to proceed?
2 Answers from Attorneys
Re: Title Error
If we could see the document that supposedly grants some interest in the property to another person we could give an opinion. Unfortunately, this is one of the problems with this message forum. Time and time again we get incomplete facts, can't give opinions on documents we don't see, and therefore are disadvantaged to try to give any information.
What was the exact document that supposedly created an interest in another person? When was it recorded? What interest does the document state he or she has? Did it show up on the preliminary title report of the title company? What efforts were made to cure?
If you want to show me all the pertinent documents in a free consultation you may call 480.835.1500. This is something we would need to look at in person.
In short, you need to get this title controversy resolved one way or another, and it will probably take an attorney to do it.
Best regards,
James D. Jenkins
Re: Title Error
The buyer is entitled to cancel the purchase if you are unable to deliver clear title. You need to take action to discover who the person on the title with you, is, and how he is on your title. Perhaps it was an error in recording and could easily be cleared off. This type of problem is supposed to be discovered during the escrow period and you should have had an opportunity to clear the title before the buyer cancels. Without knowing much more, I cannot give you further information