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#1
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Title Insurance QuestionI have reached an agreement with a tenant/buyer for a house which I have offered to sell on a lease purchase. However, in an addendum his attorney wrote: Evidence of Title: Lessor shall provide evidence of Title in the form of a policy of title insurance at Lessor's expense. Am I reading that I am expected to pay for title insurance now , before he has even exercised his option to purchase? This seems highly unusual to me. Thank you. |
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#2
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| It is not unusual as you should already have title insurance since you are the property owner. |
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#3
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| Thank you, homeguru. So, in other words, the tenant/buyer wants a copy of the existing title policy? |
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#4
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| Yes but they may also want a current title report. |
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