Legal Question in Real Estate Law in New York

selling a property in Long Island, NY. The buyer cannot get a title insurance because of some issues on the property that needs to be resolved. Can a contract be dissolved by a seller if the buyer refuse to settle the issue on not being able to get a title insurance on the property?

Asked on 10/15/13, 8:05 am

4 Answers from Attorneys

Yefim Rubinov Yefim Rubinov Attorney at Law

what does the contract say?

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Answered on 10/15/13, 8:25 am

Kevin Connolly Kevin J. Connolly

This depends on many factors, to include the nature of the defect and the terms of the contract. If the you did not reserve an "out," the buyer may be able to compel you to deliver a deed while placing the entire purchase price in escrow while he cures the defect. You should speak to the attorney who wrote the contract.

You did have an attorney do that,right?

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Answered on 10/15/13, 8:50 am
Arnold Nager Arnold H. Nager, Esquire

It depends on the terms of the contract.

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Answered on 10/15/13, 11:57 am
Walter LeVine Walter D. LeVine, Esq.

I agree with the other authors that your question cannot be properly answered without reading the contract and seeing any provisions on termination.

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Answered on 10/15/13, 4:19 pm

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