03-20-2007, 12:39 AM
Help!
My husband and I are trying to close on our purchase of a lot in Leilani. Our deadline for closing is March 31st.
I didn't catch the mistaken in my first review of Preliminary Title Report, but when we received the proposed Deed, both the Deed and the Preliminary Title Report had the property going to us "subject to the following terms and provisions" of a prior deed where the sellers' parents were granted the same property. The sellers' parents are now deceased, so the property would go back to the sellers as their heirs-at-law.
I'm no attorney, but it seems clear to me that this wording is legally deeding the property back to the sellers in a roundabout fashion. Chances are we would never have a problem, but you just never know.
People at Title Guaranty are extremely nice, but so far have refused to see that there is indeed a problem and simply tell me that's the way they've always done it.
I've even suggested that the words "terms and provisions" could be changed to "covenants, conditions and restrictions", because it's obvious that's the part of the deed that they want to include on the exceptions.
Or they could even simply restate all of the conditions, covenants and restrictions contained in the deed.
At first I was told they weren't changing anything, and when I explained that we couldn't approve this paperwork the way it was, they said they would contact their lawyer and get back with us, I just don't know when and time is running out.
Should we try to get another title company or is it too late?
Do you think we would have same problems with any other title company?
Should we get a real estate attorney in Hawaii to give his/her opinion?
Any advice would be greatly appreciated.
Thanks!!!!
My husband and I are trying to close on our purchase of a lot in Leilani. Our deadline for closing is March 31st.
I didn't catch the mistaken in my first review of Preliminary Title Report, but when we received the proposed Deed, both the Deed and the Preliminary Title Report had the property going to us "subject to the following terms and provisions" of a prior deed where the sellers' parents were granted the same property. The sellers' parents are now deceased, so the property would go back to the sellers as their heirs-at-law.
I'm no attorney, but it seems clear to me that this wording is legally deeding the property back to the sellers in a roundabout fashion. Chances are we would never have a problem, but you just never know.
People at Title Guaranty are extremely nice, but so far have refused to see that there is indeed a problem and simply tell me that's the way they've always done it.
I've even suggested that the words "terms and provisions" could be changed to "covenants, conditions and restrictions", because it's obvious that's the part of the deed that they want to include on the exceptions.
Or they could even simply restate all of the conditions, covenants and restrictions contained in the deed.
At first I was told they weren't changing anything, and when I explained that we couldn't approve this paperwork the way it was, they said they would contact their lawyer and get back with us, I just don't know when and time is running out.
Should we try to get another title company or is it too late?
Do you think we would have same problems with any other title company?
Should we get a real estate attorney in Hawaii to give his/her opinion?
Any advice would be greatly appreciated.
Thanks!!!!