Posted by River City on January 21, 2005 at 07:14:14:
I meant that the title company made an error, evidently a big error. They might let your wife sign a note with them and pay them back over time, like an auto loan with no down payment.
title error??? - Posted by Jeff
Posted by Jeff on December 29, 2004 at 08:37:53:
Hi,
About a year ago my wife sold her house. She had listed that there was a second on the house. In the closing statement the second was not listed but she did receive a note for the company that had the second that it was paid off. Now the title company that handled everything is coming back to my wife saying that there was a mistake and that she was paid to much and that they paid off the second in good faith. She said that what she got from the sale of her house was in line with what she was told she would get and with the note saying the second was paid off did not question anything. Now - what can we do here? The title company is saying we have to pay them back the money and we do not have it. We have since married and bought a new home out of state. Please advise.
Re: title error??? - Posted by River City
Posted by River City on January 03, 2005 at 10:00:57:
Wow, that is a toughie. Although she knows she owes the money.
Did the title company say how much she owed? Did they say how much they overpaid? Why didn’t she question the fact that the 2nd was not on the settlement statement? She knew it had to be paid for the buyers to have clear title.
Can she sleep at night knowing that she owes the money? What does she think (or know) is the right thing to do?
What if someone’s job is on the line for this mistake if they can’t make it right? What if it is a single person that has a couple kids to support?
What if your wife was walking down the street with $10,000 and it fell out of her purse and just as she noticed it missing, she saw someone else pick it up and they denied that it was hers? What if? What if?
If she doesn’t have the money, the title company could have her sign a note with them for the amount owing. They wouldn’t be out any more money and your wife would not have to front any money.
Re: title error??? - Posted by Tom-FL
Posted by Tom-FL on December 29, 2004 at 21:33:17:
I’m not a lawyer and don’t have an opinion about the legality of this.
I am curious however as to how this went unnoticed.
You didn’t include any numbers in the post so I’ll just pull some out of the air. Let’s say she sold the house for 100,000 and she had a first of 60,000 and a second of 20,000 but she walked out of closing with a check for 40,000. Didn’t that seem odd?
Re: title error??? - Posted by jeff
Posted by jeff on January 03, 2005 at 10:24:21:
Wow, that is a toughie. Although she knows she owes the money.
>
> Did the title company say how much she owed? They did a year later -
Did they say how much they overpaid? Yes -
Why didn’t she question the fact that the 2nd was not on the settlement
statement? She was going through a lot of other things - div. - cust. of
children - trusted the title company to do it right.
She knew it had to be paid for the buyers to have clear title. they got the
title - this is a year later.
>
> Can she sleep at night knowing that she owes the money? not really - we’ll
pay it back somehow it we do owe it.
What does she think (or know) is the right thing to do? if we owe it we
will pay it, but coming back to us a year later and after we have paid of
other debts etc we have suffered some damages too.>
> What if someone’s job is on the line for this mistake if they can’t make
it right? not sure about that but they have put us in a bad situation too.
What if it is a single person that has a couple kids to support? what
about our kids -
>
> What if your wife was walking down the street with $10,000 and it fell out
of her purse and just as she noticed it missing, she saw someone else pick
it up and they denied that it was hers? What if? What if? does not apply
>
> If she doesn’t have the money, the title company could have her sign a
note with them for the amount owing. They wouldn’t be out any more money
and your wife would not have to front any money. What do you mean?
Re: title error??? - Posted by Jeff
Posted by Jeff on January 03, 2005 at 09:47:42:
She rec. the amount that she was told she would get after everything was taken out. So she didn’t question it.
Re: title error??? - Posted by Jeff
Posted by Jeff on January 10, 2005 at 13:32:25:
what did you mean by signing a note and not being out of any up front money?