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Updated almost 8 years ago, 01/20/2017
Title insurance question
Hi all,
I am purchasing a vacant lot that was previously purchase at a tax sale. The closing company said that seller does not have title insurance since most companies don’t insure tax sale. This property will forever be uninsurable without quiet title action. The sellers proposed to go back and insure the original sale and then pass everything on to closing company to insure the current sale.
Now, for the sake of ease of sale, seller’s attorney is willing to offer title insurance and an indemnification letter on the property which would meet all of the terms of the agreement of sale regarding obtaining clean and marketable title. Is it safe to go this route? Thanks in advance!