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10 Replies
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I hope the developer got title insurance.
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A little magic and “POOF” $350,000 disappears into thin air. Wow. Just WOW.
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Something similar happened around about 40 years ago. A lady passed away owning about 40 acres or so. Her only heir lived out of state and didn’t visit the property for about 5 years. SURPRISE there is an entire subdivision on the property. To make a long story short another relative (NOT an heir) forged the ladies name to a deed (the date was after her death) and sold the property to a developer. From what I remember, the true heir got some money from each of the home owners. I have no idea if Title Insurance paid or not.
Andy
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Usually in these scenarios I would have a modicum of sympathy for the buyer, but I’m not too sympathetic toward corporations buying up residential property.
A corporation should be able to do its due diligence, especially considering that their aim is usually to flip a house or rent it out at sky-high prices. They’ve got a lot more resources than the typical buyer.
“…people will come to love their oppression, to adore the technologies that undo their capacities to think.” -Neil Postman -
A corporation should be able to do its due diligence…
I don’t know how you’re supposed to bust an impersonator though. I mean the perp had fake IDs… and IDs what we’re known by in modern society. And getting the lawyer involved was a clever touch.
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I believe Kenigsberg might well have a $1.5million house for free.
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Trust in the Lord…..but tie your camel to a tree!
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@one-cup-o-joe I’m trusting the Lord to make sure I never own a camel.
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Something similar happened in Palm Coast. I don’t know the Surveyor who was involved.
https://www.gotoby.com/million-dollar-home-built-on-wrong-lot-in-ocean-hammock-ne-florida/
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@peter-lothian My first thought as well. This is a good example of why title insurance is not the waste of money that some say it is. Their argument is that it insures one against things that never happen. But here we are.
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