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Title insurer sues owners for negligent misrepresentation, breach of contract
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Court Report
Thursday, February 20, 2014
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In connection with securing a construction loan, the owners of the property issued an owner’s affidavit indicating that there was no encumbrance on the subject property, when in actuality there was a $4 million deed of trust encumbering it. When the borrowers defaulted on the loan, the title insurer who relied on that affidavit satisfied the original deed of trust and sued its agent and the owners for breach of contract and negligent misrepresentation.
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