Legal Question in Real Estate Law in Florida
abstract company diligence in title search
what standard of diligence is required of a company in record search for property closing if the name of the grantor is listed as mary green taylor or such and only the taylor is searched and a judment is missed under the name green and a warranty deed is given by taylor to grantee and the judgment surfaces later.
1 Answer from Attorneys
Re: abstract company diligence in title search
There is strict liability for the title agent who may have missed a judgment if it would attach to the property. Please remember that a judgment must be certified in order to become a lien against real property. Homestead property is exempt from judgments. Judgments have a life of seven years at which time they expire unless refiled.
If this judgment did attach to non-homestead property and the closing agent missed it, you would have an action against the new owner to foreclose on the property. In turn, the new owner would more than likely file a claim against his/her title insurance policy.
This is a very technical area of the law and you should consult a qualified real estate attorney about the specifics of your situation.
Scott R. Jay, Esq. 305-249-8000
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