Posted by River City on June 17, 2004 at 12:11:42:
Your title policy should have a stated amount on it. You are insured up to that amount and no more.
Some legal advice on this one please… - Posted by Mike
Posted by Mike on June 16, 2004 at 13:13:53:
Hi.
Here’s the deal. I bought a house in Feb. '04 for $81,000. So, I naturally have an owner’s title policy for $81,000. I took ownership in a trust. I received a call today from the trust company indicating that they received a foreclosure summons against this property. Apparently, the person I bought the house from took out a rehab loan in Dec. '03 and when he sold me the house, proceeds never went to his lender. According to the summons, it appears that a mortgage was recorded in Dec. '03. Apparently, the title company missed it (how I don’t know) when they did a search for my transaction.
Anyhow, my attorney is telling me the title company should be responsible for covering only up to the amount of the owner’s policy ($81,000). The damages according to the summons are for somewhere around $91,000.
This just doesn’t seem right to me that I would be responsible for making up the difference in this case. Clearly, the title company goofed by not seeing a mortgage of record.
Any suggestions on this one?
Thanks.
Mike
Re: Some legal advice on this one please… - Posted by Leslie Cole
Posted by Leslie Cole on November 15, 2004 at 23:59:19:
After this was written there appeared a remarkable posthumous memoir that
throws some doubt on Millikan’s leading role in these experiments. Harvey
Fletcher (1884-1981), who was a graduate student at the University of Chicago,
at Millikan’s suggestion worked on the measurement of electronic charge for
his doctoral thesis, and co-authored some of the early papers on this subject
with Millikan. Fletcher left a manuscript with a friend with instructions
that it be published after his death; the manuscript was published in
Physics Today, June 1982, page 43. In it, Fletcher claims that he was the
first to do the experiment with oil drops, was the first to measure charges on
single droplets, and may have been the first to suggest the use of oil.
According to Fletcher, he had expected to be co-authored with Millikan on
the crucial first article announcing the measurement of the electronic
charge, but was talked out of this by Millikan.
– Steven Weinberg, “The Discovery of Subatomic Particles”
Robert Millikan is generally credited with making the first really
precise measurement of the charge on an electron and was awarded the
Nobel Prize in 1923.
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Re: Some legal advice on this one please… - Posted by Lesley Javan
Posted by Lesley Javan on September 28, 2004 at 05:22:04:
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