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Updated almost 4 years ago on . Most recent reply

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113
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Pixel Rogue
  • PA
10
Votes |
113
Posts

After 12+ months, titles are still no in our name (!!)

Pixel Rogue
  • PA
Posted

We closed two properties at the end of 2019. We discovered that the deeds were never recorded in our name when we went on a hunt to locate school taxes. In August title company blames everyone else (including state website being down the day they went to record it) ~ they would have it fixed asap.  November 2020, still not fixed...now getting upset w/the title company (a company I used exclusively for years w/o problems, same agent.) ~ telling me we benefit because 'we have more time to pay the school tax' ~ what? We actually lost the discount rates AND remain at HUGE risk w/o having the titles recorded. Inquired again in December 2020. 

As of today titles are still not recorded and have lost all faith and patience w/the title company.

1) Where are the responsibilities of the unpaid taxes? We have paid the 'assessed' value taxes which are based on non-dwelling space as they were new construction units in builder's name. 
We have had tenants in each unit for a year now, tiny token tax bills because the units have not been recorded as completed and sold etc.

2) How does a customer turn up the pressure in a way that the title company will take notice and respond to prioritize and fix the issue? 

While both closings were nearly identical and same time frame, only one property recorded prepaid taxes which the title company mailed back (August 2020) and there was nothing collected for the second property.


3) We think informing the lender of the problem might help put pressure on the title company, however the lending company of of the most skittish we have ever dealt with and might take drastic measure such as recalling the mortgages or something crazy...what could a bank legally do if they learn the title has never actually been recorded in the name of the borrower? 

Thank you in advance for any insight....

Most Popular Reply

User Stats

382
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272
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Bob Norton
Pro Member
  • Accountant
  • Slidell, LA
272
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382
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Bob Norton
Pro Member
  • Accountant
  • Slidell, LA
Replied

@Pixel Rogue Did you purchase title insurance when you bought the properties?  You may be able to file a claim with them.

You could also go to the clerk of court and record the deeds yourself.  You may have to stop by the title company and pick up the originals, if you do not have them.

You could also hire another lawyer to sue the title company into action.  Plus, you can include in your claim any late penalties on the property taxes.

And, you need to check the title records to see what has been filed against the property since you purchased it.  There could be other liens filed against the property that are not yours.

Discuss this with a real estate attorney to determine your next best steps.

  • Bob Norton
  • Loading replies...