All Forum Posts by: Peter Walther

You're very welcome.

I suggest you let the settlement agent know about the letter and submit a claim to your title insurer using the procedure listed in your policy.  While it's possible the letter was sent before the lender received the payoff, it's also possible the mortgage was missed.  In either case the policy probably requires you to notify the insurer as soon as you become aware of a possible adverse matter.  If you fail to do so and the insurer's ability to defend you is adversely impacted, your coverage may be affected.

 You're welcome.

I suggest you look into joining the Central Florida Realty Investors group.  It's a member owned and operated not for profit group geared to the individual investor.  They have a main meeting the 2nd Tuesday of every month and then a number of sub meetings by location and topic throughout the month.  The first general meeting is free.   

Central Florida Realty Investors Association - metro Orlando real estate investment club (cfri.net)

Why did you go to the city?  What did you need from them to be able to move into the "house"?  Are the bedrooms and baths permitted?

I think you need to read the contract you signed and the seller's disclosures you received to see if there are any apparent misrepresentations. I assume you and or the real estate agent if you were working with one drafted, the contract. Did the contract specify the intended use was as a SFR?

I believe that under a standard title insurance policy, building code matters, zoning and other governmental restriction on the use of the property are excluded from coverage so unless you purchased an extended form title policy there probably is no coverage, but it never hurts to submit a claim.  The worst the insurer can do is deny coverage.

 Since I'm the party that was allegedly libeled, I'm the aggrieved party, and therefore have standing, I think.

Are you alleging I attacked you?  If so, my feelings are hurt, you harmed me.  I think it may be actionable slander.

To further clarify, the premium is the charge for the cost of the title insurance.  In general, states either promulgate the rate or the insurers file a rate with the DOI which is then approved, and the insurer follows it.  Also in my experience, most insurers match the lowest approved rate so as not to lose market share.  The other closing costs (title search, closing expense, cost to physically record the docs, etc.) can vary, hence the difference in closing costs.

I think technically it may be libel, which is written defamation while slander is spoken defamation.  With either, the defamed needs to prove damages and of course, if it's true, it ain't libel.

In my experience, assessors rely on the representations of the property owners as to whether they're intitled a particular exemption i.e. 65+ and/or homestead.  If the assessor finds out later the property owner lied and was not intitled to the exemption, state law requires the assessor reassess the property and levy the appropriate tax.  If you have a problem with that process, I believe it would take a change in the law.