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Updated over 11 years ago on . Most recent reply
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How to find out if there is POTENTIAL litigation against the Property?
Hello
So how would one go about finding out if there is pending/potential litigation against a property?
What about the legal history of a property?
Lien is clean, title is clean.
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Welcome @Account Closed I missed your previous posts to say hello.
In doing a bigger deal, you may want to dig a little on a seller, especially in a business entity. Search the entity as they will need to be in good standing to convey but also look for contingent liabilities as Adam mentioned.
After conveyance of title you should be in the clear as any judgment after the sale usually can't touch you, unless there were issues unique to that property and there should be, a final clearance on title prior to filings to avoid last minute claims.
I'd say the biggest issue will be from new construction or repairs being made to a property within the time frame allowed to file workman's and material liens. Such items again need to be addressed as representations in your contract to survive settlement. Such are exceptions in title insurance and can't really be covered by a search so that means you need a good attorney, like Adam or Jerry, to call on. It's part of the risk accepted in dealing in RE. :)