Legal Question in Real Estate Law in Florida
building encroachment & third party deed grant
I have contracted to purchase a 3,000 ' commercial bldg. for my business and the survey has determined that a 3'' encroachment of the building's length over the adjacent vacant lot owned by a 3rd party. The land owner has agreed to deed over the needed strip, however her land deed is clouded (7 liens) from years ago. A suit to quiet title is being persued, but will take some time which the seller says they do not have due to financial problems that keep them from temporarily renting to me while problems are worked out. Is there any short term legal remedy that would give me assurance that I will in fact get my needed strip of land. For instance, can I get some sort of contract or option from the land owner before the title is quieted that guarantees I will automatically get the strip of land. My fear is that the bank will go along with this, but I make the mistake of thinking I will get the land from the 3rd party, but somehow it gets sold to someone else or the liens are never released, making remarketing the building a genuine nightmare. To compound matters, my business is now in limbo due to my current space being leased and I am now partially moved in to the new building and now I have got a problem. Please help.
2 Answers from Attorneys
Re: building encroachment & third party deed grant
do you already have an attorney?
Re: building encroachment & third party deed grant
For the investment you are making, I am surprised if you do not have counsel. If that is the case retain counsel.