Commercial Title Insurance Company

Purchased a commercial 2 years ago.Last month had planning department. coming and stated that it is zoned residential, with all the supporting docs. It has never been recorded in the trading system of the county ... The previous owner used a store without the county know ... It has been illegal to make a door and now the official count me out. Now I only have access to my store for about 9 hours a day ... Otherwise, I'm not allowed because I have to go through someone else's unit to get there.The title insurance company, he wrote in a commercial on the preliminary title report, even if it never could and now I have no access. Do you think I have a claim? According to the county I can not sell them as .. Commercial

The building was purchased for use as a commercial building. A trade policy guarantees as it may be used for the intended purposes under existing law. As a security policy that residential and no laws against the occupier of premises for residential purposes. The zoning should have been disclosed in the report title and, if not, you have a title claim. Unfortunately, those who read the report title. If you do not claim a title, I would like to pursue a claim against the company as the closing agent. Underneath E & O insurance, they closed on a property of knowledge (actual or constructive knowledge of A) you intend to use it illegally.

I would absolutely consult a competent real estate lawyer on it.

I have never had direct experience with this type claim, but belonging to many properties and bought countless title insurance policies.

I seriously doubt that you win any type of claim. What happens to most materials, is the fact that the property is or has ever been zoned as commercial property. Just because the title insurance company, he posed as commercial, it's more of a clerical error and not likely something you could never claim.

Since you knew when you bought that was not commercial and it was an "illegal" store, basically, you are responsible for purchasing this end, when they could not legally have a store here below.

Ultimately, caveat emptor (buyer beware), you are responsible to clarify the ownership and intended use of it. Zoning will win because he has never been commercial, just because you wanted to use it, do not give a claim.

You can go after the former owner to lead you to believe it was acceptable to have a store there, but it is a brittle case.

Sorry to say, but it is best to suck it and see if you can get the rezoning of trade or liquidate.

Good luck

Todd

PS If your search strategy title for title insurance states that the property is "commercial" then you can probably go after the insurance company based on the way as you went with their words on this subject that it was commercial.


MillionaireCoaching.com

Wow, this is a difficult question. You should not rely on the answers you get in here for your situation. You want to maximize the response of the more educated you.

Please contact an attorney in your area immediately.

Good luck to you.