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We bought our beautiful lake property several years ago. We’re thinking of moving again. One minor detail….the original owners sold us the property but described it wrong. They used an outdated legal description that was superceded by quit claim deeds that they had already signed!
We’re caught in a bad scene. Luckily, when I purchased the property, I used a lawyer for all three phases of the purchase (the offer, the review of closing documents, and the closing). We also had title insurance. Unfortunatly, it excluded a particular survey and description that might be pertinent to our case.
I’m assuming that I have a slam dunk if I have to sue. The current delay is causing me to miss some great opportunites like investing in Mike’s swamp condos.
Am I entitled to damages that are occurring due to lost income? I need the equity in this place to take advantage of several other better ideas…
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Replies
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We bought our beautiful lake property several years ago. We're thinking of moving again. One minor detail....the original owners sold us the property but described it wrong. They used an outdated legal description that was superceded by quit claim deeds that they had already signed!
We're caught in a bad scene. Luckily, when I purchased the property, I used a lawyer for all three phases of the purchase (the offer, the review of closing documents, and the closing). We also had title insurance. Unfortunatly, it excluded a particular survey and description that might be pertinent to our case.
I'm assuming that I have a slam dunk if I have to sue. The current delay is causing me to miss some great opportunites like investing in Mike's swamp condos.
Am I entitled to damages that are occurring due to lost income? I need the equity in this place to take advantage of several other better ideas...
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