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How bad is it to not disclose a lawsuit in a real estate sale?
| Dark round eye | 07/29/16 |
| onyx step-uncle's house yarmulke | 07/29/16 |
| Motley gold pozpig | 07/29/16 |
| Dark round eye | 07/29/16 |
| amber infuriating jew | 07/29/16 |
| Impertinent Lodge Legend | 07/29/16 |
| Dark round eye | 07/29/16 |
Poast new message in this thread
Date: July 29th, 2016 10:19 AM Author: Dark round eye You own the property. The plaintiff (the city) isn't filing a lis pendens, but the lawsuit involves the property and the buyer will likely have to deal with the ramifications post-closing.
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Date: July 29th, 2016 10:31 AM Author: onyx step-uncle's house yarmulke You get sued. (http://www.autoadmit.com/thread.php?thread_id=3305762&forum_id=2#31059818) |
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Date: July 29th, 2016 10:32 AM Author: Motley gold pozpig also possible fraud charges (http://www.autoadmit.com/thread.php?thread_id=3305762&forum_id=2#31059830) |
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Date: July 29th, 2016 11:06 AM Author: Dark round eye What about a settlement of that law suit involving a stipulated judgment with no lis pendens? (http://www.autoadmit.com/thread.php?thread_id=3305762&forum_id=2#31060126) |
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Date: July 29th, 2016 11:18 AM Author: amber infuriating jew Title co will likely find the suit. Code enforcement actions have their own parts in some jurisdictions and their own weird docketing systems so there is no lis pendens but there is still a record of the litigation that does the same thing. In NYC we call this shit ECBs. Detroit has a weird system too where the office of the mayor sues you. No Lis Pendens but the title cos know where to look. (http://www.autoadmit.com/thread.php?thread_id=3305762&forum_id=2#31060211) |
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Date: July 29th, 2016 11:20 AM Author: Impertinent Lodge Legend that's the title company's job, but chances are they won't issue title insurance with a lawsuit like that going on (http://www.autoadmit.com/thread.php?thread_id=3305762&forum_id=2#31060225) |
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Date: July 29th, 2016 11:36 AM Author: Dark round eye lis pendens is being terminated as part of the stipulated judgment, so it won't come up on the title company search.
There is a good chance the buyer will no find out about the issue until after closing unless I tell them.
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