Deal stalled in Escrow in search of 2nd party release of lien

[Rashard Alomari]

Hello all! I currently have a deal in Escrow that has been delayed due to a previous loan on the property that wasn't properly released. The current owner obtained a loan from a husband and wife when he first bought the property. When the loan was paid off, only the wife signed the release. They title company is stating that they must find the husband to get his written release as well. My seller informed me that the husband has left the country over 7 years ago and it will be practically impossible to locate him. Is this deal long gone?! Is there possibly another avenue of completion that the title company can take to secure a clear release and ultimately a clear title? Thanks in advance!!!

[Dion DePaoli]

You can forego title insurance and take title to the property.  Upon ownership you can file a Quiet Title suit against the mortgagee.  Once that is done you can then go back and pursue a title insurance policy.  The only reason this is not closing is because the title company will not insure title with that defect on the release.  The issue doesn't mean you can not buy the property though, just means they won't insure title.