Practical Real Estate Law
Quiz 13 :
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Q55 Q55 Q55
James and Paris purchased a home from David and Dana and purchased an owner's policy of title insurance in connection with the purchase. After the sale, it was discovered that David and Dana were separated at the time of the sale and Dana's signature was forged on the deed. Dana claims that the deed is void as to her half interest and demands $100,000 for her interest in the home. James and Paris file a claim with the title insurance company. Will the title insurance company protect them from Dana's claim?
Q56 Q56 Q56
Good Fortune Company purchases land improved with a building and buys an owner' s title insurance policy in connection with the purchase. The policy is a standard policy with no special endorsements. When Good Fortune applies for a permit to open a restaurant, they are told by the city that the property does not have adequate parking under the zoning ordinance to be used as a restaurant. Does Good Fortune have any valid claim against the title insurance company because of this issue?
Q57 Q57 Q57
Acme Real Estate Ventures owns a small shopping center. Acme's ownership is insured by an owner's title insurance company. Acme sells the shopping center to Farris Investments. Farris reviews Acme's insurance policy showing ownership in Acme and does a title examination from the date of that policy that shows that Acme has not sold the property. Farris buys the property but does not get an owner's policy of title insurance. Later Farris discovers that Acme did not own the property, as there was a forged deed to one of the previous owners. Can Farris make a claim against the Acme policy?