Another good Equitable Title Post for mortgage and title closers. Shows what can happen when intentions to maintain an interest are not turned into reality because the language was not clearly spelled out when creating the deed. Creating legal documents is much more than filling in the blanks. A portion of the lawsuit reads:
The first lender intended to retain a security interest on the second parcel for the two remaining loans. As we explain below, that is not what happened, and we must address the issue of whether the title and sub-escrow company is liable to the first lender.
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