Legal Question in Real Estate Law in New York

I purchased a property with a small house on it right after we closed some siblings of the previous owner started fighting about it, so my title insurance company hired a lawyer and this is been in court for over 3 years, 2 months ago we were granted the motion and we won the case, but today we got a call that they are appealing, which they have 6 months to prepare if they will go to the appeal or not, my question is as follow I am pretty much fed up, i need to renovate and put in a lot of money in the house, I know normally i should wait till everything is over and done with, but its just so long and i'm living like temporary cause i didn't want to put it any money just in case we lose,...

so now my question is, what are my rights? can I put in the money fix up the property now? and hold the title insurance responsible if something goes wrong, or do I have to put my life on hold for so many years?

thanks appreciate if you can help me with any answers,


Asked on 6/05/12, 6:31 pm

1 Answer from Attorneys
Arnold Nager Arnold H. Nager, Esquire

If you purchased a market value nrider from the title company at closing, you should be OK. That would obligate the title company to pay you the fair market value of the property if there is a successful claim.

This post is not legal advice and does not create an attorney-client relationship. It is a comment on the legal question posed by the poster and should not be relied upon in any way. All readers are advised to consult an attorney to address their specific legal concerns. Additional facts could affect the answer given.

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Answered on 6/06/12, 2:44 am


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