25 October 2018 - Events
Me in a minute
It's like solving a puzzle
I like taking a title search and reviewing it for any inconsistencies. The more complex the title search the better. It’s like solving a puzzle.
I recently worked with a client to draft a mortgage between related trusts for a property in Rhode Island. The mortgage covered three different parcels, which were conveyed at different times to the trusts. Some of the conveyances omitted a parcel due to a correcting deed being filed afterward. Then the grantor of the trusts passed away, and in the midst of trying to correct the title, one of the trustees passed away. I had just solved the puzzle and finished drafting documents to correct the title, when the remaining trustee decided to see if he could sell the properties and he found a buyer the first day the properties were on the market. The buyer did not care that the title was clouded and bought it as is, leaving all of my attempts to correct the title to be for naught, but at least I was able to solve the biggest puzzle I ever had.