ReferencesCommon Real Estate Malpractice Errors
- Erroneous description in deed of property to be conveyed
- Misstated date to which interest was to be computed
- Failure to fill in blank on form
- Improper acknowledgement
- Failure to reserve mineral rights
- Failure to advise on impending change in law
- Unauthorized delay or failure to strictly enforce closing time limits
- Failure to discover encumbrances on the property:
- mortgage lien
- vendor's lien
- tax lien
- mechanic's lien
- contract for deed
- right-of-way
- mineral lease
- Failure to assure that clients received or conveyed title as represented:
- remainder
- dower
- outstanding life estate
- lease
- Errors in the description of the property
- Failure to perfect security interest:
- failure to prepare mortgage document
- failure to update title search at time of closing
- failure to record or timely record a mortgage
- filing in the wrong county
- failure to obtain releases of other encumbrances
- Failure to collect or protect security interest
- Failure to attend commissioner's sale
- Failure to know other applicable law, e.g., probate, tax
- Failure to disburse sale proceeds properly