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Message
re: OT Lawyers: Road Home Property
Posted on 5/28/14 at 3:16 pm to LSUFanHouston
Posted on 5/28/14 at 3:16 pm to LSUFanHouston
quote:
I'm not sure why the Title Company would be in trouble, if there was no public record filed pursuant to the covenant and/or the non completion of the covenant.
Yeah, I was assuming one was filed and and it was missed during title opinion and that is how the 2013 sale went through.
You would have to check the specifics with the state but I think liens like that have a 10 year statute of limitations in LA. So the govt. has until 2020 to file the lien, or a 2010 lien would expire in 2020. I'm a little fuzzy on that without researching further.
Nonetheless, sounds like something I would avoid being part of.
2
Posted on 5/28/14 at 3:20 pm to Clyde Tipton
I'm guessing Party A took Option One? Could they have gone back and changed to Two or Three? Of course, that would have been best done before the 2013 sale.
I'm still trying to figure out why Party B did this transaction.
I'm still trying to figure out why Party B did this transaction.
Posted on 5/28/14 at 3:22 pm to Clyde Tipton
Okay scratch that last part about the liens.
The covenants and restrictions should have been attached and read during the 2013 sale. Yes Party A lied, and is ultimately liable for the funds, but the title company dropped the ball not catching it. Sounds like it was spelled out in black and white what was required, and nobody questioned it.
The covenants and restrictions should have been attached and read during the 2013 sale. Yes Party A lied, and is ultimately liable for the funds, but the title company dropped the ball not catching it. Sounds like it was spelled out in black and white what was required, and nobody questioned it.
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