Posted by John Merchant on May 17, 2008 at 15:47:24:
In Reply to: AM I LIABLE posted by keith arnold on May 05, 2008 at 11:58:02:
If you got Title Insurance when you closed, you're protected and your lawyer* will immediately cross-action against the TC so as to get Judgment making them pay for all your costs incl. your atty's fees, and you'll enjoy watching without worry.
This is true value of TC so you're not concerned about their failure to catch these items when they had their folks examine the title and if that indeed did occur, now they've got to pay for their screwup.
But you should notify that TC right now, in writing, so as to put them on notice, and once you do that you'll likely be bothered no more.
And if you're soon served with law suit notice, get those docs to TC immediately so they'll hire their lawyer* and you won't be out any costs.
*I was once sued on a similar deal but it was weird because I didn't know if I was covered and immed. hired my own lawyer to file my appearance...but when he took it to the clerk's office to file it, he was almost mugged by the ins. co.'s lawyer and told to scram as they'd take care of it, which they did.
And I basically did little more than watch as that ins. co. handled the whole mess, sans any cost to me.