Skip to comments.86-year-old WWII veteran being sued by country club over property
Posted on 04/24/2014 10:08:27 AM PDT by Tolerance Sucks RocksEdited on 04/24/2014 10:10:54 AM PDT by Admin Moderator. [history]
OVERLAND PARK, Kan.
(Excerpt) Read more at fox4kc.com ...
there is an apostrophe missing in the last sentence
Sue the county planning board and land surveyor. They both approved the building.
He could actually sue the closing attorney, too. That’s what title insurance is for.
This is a good pro bono case.
I guess it's Teed off...................
And there's a period missing in yours (not to mention the lack of proper capitalization at the beginning).
I am not a paid journalist - plus jeering from the cheap seats is fun sometimes....!?¡¿
Title insurance is a form of indemnity insurance predominantly found in the United States which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans. Title insurance is principally a product developed and sold in the United States as a result of an alleged comparative deficiency of the U.S. land records laws. It is meant to protect an owner’s or a lender’s financial interest in real property against loss due to title defects, liens or other matters. It will defend against a lawsuit attacking the title as it is insured, or reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided by the policy. The first title insurance company, the Law Property Assurance and Trust Society, was formed in Pennsylvania in 1853. The vast majority of title insurance policies are written on land within the United States.
Typically the real property interests insured are fee simple ownership or a mortgage. However, title insurance can be purchased to insure any interest in real property, including an easement, lease or life estate.
There are two types of policies - owner and lender. Just as lenders require fire insurance and other types of insurance coverage to protect their investment, nearly all institutional lenders also require title insurance [a loan policy] to protect their interest in the collateral of loans secured by real estate. Some mortgage lenders, especially non-institutional lenders, may not require title insurance. Buyers purchasing properties for cash or with a mortgage lender often want title insurance [an owner policy] as well. A loan policy provides no coverage or benefit for the buyer/owner and so the decision to purchase an owner policy is independent of the lender’s decision to require a loan policy.
Title insurance is available in many other countries, such as Canada, Australia, the United Kingdom, Mexico, New Zealand, Japan, China, Korea and throughout Europe. However, while a substantial number of properties located in these countries are insured by U.S. title insurers, they do not constitute a significant share of the real estate transactions in those countries. They also do not constitute a large share of U.S. title insurers’ revenues. In many cases these are properties to be used for commercial purposes by U.S. companies doing business abroad, or properties financed by U.S lenders. The U.S. companies involved buy title insurance to obtain the security of a U.S. insurer backing up the evidence of title that they receive from the other country’s land registration system, and payment of legal defense costs if the title is challenged.
A lot of Title Insurance policies are to protect the Lender or mortgage holder, not the homeowner.................
That was my thought.
” Brookridge Country Club is suing Wesley for $75,000, because they allege 60 square feet of his garage is on country club property, according to a survey.”
$75,000 for 60 square fee? That’s $54.4 million per acre.
What kind of crack is their attorney smoking?
Adverse possession should clear this up. The vet will win it.
I understand it primarily is purchased by the lender and not for the borrower. But, you do know don’t you that once the lawyer has issued a policy for the lender, he will gladly sell you one too to protection your interests, and cheap. You need only ask for it.
I’ve done this twice.
Or sue the person who owned it when they put up the garage. And yes, when a sale is pending doesn’t the city send out a person to make sure everything is right?
As far as the law suit, $1,250/sq ft? Seems kind of excessive.
Hopefully someone will take up a collection for this guy’s legal defense.
Actually, the base recovery is $75. The other $74,925 is the attorney fee.
The vet will win it.
Only if he can get a lawyer....
Wnenever I've closed on a mortgage I've had to buy title insurance for the lender and it was offered to me. I've always passed on it, but with all of the hijinks of banks in the bubble and the crash I don't think I could pass it up unless I was buying a house that hadn't been sold or mortgaged for the past twenty years.
Does anyone know that insurance premiums have gone up because titles are much less secure than before?
I think you gotta pay property taxes to claim adverse possession.
And if in fact he was assessed and did pay taxes on the entire garage, then yeah. you may have a point.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.