Protecting sellers from shady title agents
Like the lender and the buyer, the seller of real estate can be victimized by a shady title insurance agent who runs off with money meant for, say, paying off mortgages. But unlike the lender and the buyer, the seller isn't protected by the standard "closing protection letter." A CPL requires the title insurer to guarantee the agent's performance.
In the new ISBA Real Property newsletter, Michael J. Rooney suggests ways counsel for sellers can protect their clients.
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