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Updated over 6 years ago,
Deed error keeping me from selling rental...what is my next step?
I purchased a foreclosure duplex 4 years ago and used the banks recommended Title agent and purchased Title insurance. Last year, I decided to list the duplex for sale and I learned that my deed's legal description was incorrect once I had the property under contract.
The duplex next door to mine is the one that is actually deeded to me and fits the legal description that I have on my deed and vice versa. I filed a claim against my title insurance and was denied several times. I was told that it was not covered because I should have gotten a land survey during my due diligence period and that the policy covers only the land it describes. I contacted the title agent and I was told it was an easy fix with a scriveners affidavit and reached out to the previous owner who agreed to sign a corrected deed but now the previous owner is not cooperating (previous owner says he is still paying a mortgage on the foreclosed property somehow). What is my next step to have this corrected?
I was contacted by an attorney who represents the bank who foreclosed on the property and he told me that they were anxious to fix the problem but it's been over a year now and the updates he gives me are still the same.