Legal Question in Real Estate Law in California
After close of escrow, I received the preliminary title report. The title company forgot to give it to me. The report showed that there was a public utility easement on the property . Both the title company and the seller's agent don't know what kind of utility it is. I don't like it. Beside of find out what the easement is, what rights do I have?
I'm a real estate agent and I bought it for myself. Is it my own mistake that I missed the report before closing?
Thank you very much for your help.
2 Answers from Attorneys
It is almost unimaginable that the title company did not have you sign a copy of the preliminary report at the closing. It is completely unfathomable that a licensed real estate agent would close escrow without approving title. In any case, assuming you used the standard CAR contract, if you removed contingencies and closed escrow without reviewing the title report, you agreed to take title "as is" and therefore you have no recourse.
Why don't you find out what the utility easement is before panicking? I'm sure you want gas/ water/ electricity/ sewage service to this property.
I would also add that a preliminary title report is not the same as the actual policy of title. A preliminary title report is only an offer, and will not give rise to any liability of the title company.
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