Title Co. Removed Rents and deposits on seller request.
Hello!
I just purchased a property and after closing the title company said they removed the rents for the upcoming month of November (Closed on Nov. 5) at the seller's request. The seller, whom I know, said their 1031 person said to do it. But when I asked the title company if they had to notify us, the buyer, they said they "Assumed" we were going to work it out because we knew each other. When I pushed further she blew me off, which kind of put up a red flag.
Here's my question: Can the title company just take out prorated rents and deposits and not tell the buyer? And can they just "assume" things are going to get taken care of?
They did in the long run. But I want to know for future transactions.