Title Issue

[Billy Rogers]

I spoke with a seller today who has stopped paying taxes on 5 acres of rural land.  She lives out of state.   She told me that she bought the land from a lady and the lady's sister owned the title company where they closed the deal (red flag- remember to never do this - also shows how title ins isn't as great as people think).   Later she found out that the deed that the seller singed had the parcel number off by 1 digit.   When she tried to get the lady to sign a corrected deed she demanded $5,000.    Finally the buy agreed to pay her the 5k and when they showed up at the title office the seller demanded 10k.   The buyer said no and walked away.  She said she's talked to the county and they say she owns the land, but she can't sell it or get a mortgage to build on it because of the title issue.

She said she talked to another title company and they said they have to correct a lot of deeds from this particular title company.   She said she thinks its a scam.   She called the sheriff and they won't get involved.  

It's probably just something I should pass on, but I wanted to hear what others thought.

[Wayne Brooks]

Here, and it happened to me, that would be corrected by filing a "scrivener's error affidavit", preferably from someone at the originating title co.   A quiet title action is another possibility, only more expensive and takes longer.  For an additional $5-10K discount, it wouldn't bother me.

[Jeff McCaskey]

@Billy Rogers

@Wayne Brooks is right about the "quiet title" avenue. I bought a property in Kansas really cheap several years ago from a man who lived in WA but was from and moving back to NC. We talked and I inspected property with a key I believe he sent prior to payment, we exchanged money and papers and I was supposed to get a corrected deed to said property. I never received the new title from him. I tried over a year to contact him at no avail. So I think I asked some questions at the courthouse. Was steered onto the quiet title process and went through it. Today I have the property and the title was corrected. Turned out not to be a big deal really, though I was concerned. I think it cost me 4-500$ to fix it. Never heard another word from the man who sold it to me. Pretty odd stuff...... But I would never pay a ransom!!

[Jeff McCaskey]

if it's a profitable deal tell her you will do the work for her to quiet title to her and pay for it as well. Get it done and then buy the parcel from her. If it's profitable.......