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Updated about 3 years ago,
Six figure deal with title insurance roadblock
So I've been waiting to close on a parcel of unimproved property in TX so I can subdivide it. It will net a six figure profit if I can close it but that's the issue. Any help with this is greatly appreciated!
Recently, the title company informed for that they could not insure the special warranty deed unless the sellers brother, who was an heir to an estate, along with the seller of the property, be involved in the transaction. They are brothers (who happen to hate each other) and their fathers estate was intestate when he died. The gentleman I've been dealing with was named administrator of the estate by the county court judge and he has the documents to prove it. He paid out of pocket to settle the estate. He has been administrator for more than a year now.
I was under the impression that was the last step before being legally able to sell a property in an estate.
my title company is stating that the seller needs also an "order of sale" which I don't quite understand considering the court order specifically mentions that the seller, as administrator solely owns the parcel I'm trying to buy.
If anyone has any real experience with this type of thing, I'm curious to know if this sounds like standard title requirements or an odd request. In my dozens of purchases I have never encountered this situation. Any help is beyond helpful and I thank you in advance!!