Sam and Martha, a newlywed couple, recently bought their first home from Peter. After a few months
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Question:
Sam and Martha, a newlywed couple, recently bought their first home from Peter. After a few months after the sale, they were sued by Peter's cousin, Paul, who claimed he owned 1/2 of the rights to the house with Peter and did not authorize the sale. Peter had told Sam & Martha about Paul's interest in the property prior to the purchase of the home but assured them that he had the authority to sell.
Questions to Answer:
1. Would title insurance cover, Sam & Martha, against Paul's claim? Discuss in detail.
2. Are there any exclusions that might apply?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: