Uninsurable Title On Real Estate Property
I need help understanding what I need to do on this potential SFR I want to purchase. It fits my numbers, but has title issues. This is the email I got from my buyer's agent:
“According to the listing agent, after examining the title abstract, it was determined that title to the property is uninsurable in its current state due to a previous tax sale in the chain of title. They have attempted to prove that all interested parties received actual notice of the tax sale, but were unsuccessful; and therefore, the title insurance company refused to insure without a quitclaim deed from the prior property owners.”
Is it possible to make this work so I can own this property? Any advice would be appreciated!
Most Popular Reply
How about asking the title company what it would take to remove this cloud on title?
You may have to hire an atty and it may take a while. But you'd think with a tax sale, there'd be some sort of release/satisfaction in the county records somewhere.