This is very interesting, I got an email this morning from my lawyer in USA.
Apparently, a Lawyer representing his client in USA has inadvertently deeded a property over to my LLC instead of their client?s LLC.
I viewed the property on Zillow and surprise, surprise it settled 12 months ago. This major error has now come to light because the property is on the market/pending, which means it is "under offer" at $98,000.
If I do not sign a corrective deed, I was told that the lawyer in USA has to wear this cost.
I have just sent the email to my US accountant and asked my lawyer to clarify further. I will sign a corrective deed, but need to ensure there are no nasty surprises for me.
The lawyer who settled this property should be shot, and the true owners clearly did not view any documentation ie HUD Statement, title deed, and why they did not ask for this is very strange.
MTR
Apparently, a Lawyer representing his client in USA has inadvertently deeded a property over to my LLC instead of their client?s LLC.
I viewed the property on Zillow and surprise, surprise it settled 12 months ago. This major error has now come to light because the property is on the market/pending, which means it is "under offer" at $98,000.
If I do not sign a corrective deed, I was told that the lawyer in USA has to wear this cost.
I have just sent the email to my US accountant and asked my lawyer to clarify further. I will sign a corrective deed, but need to ensure there are no nasty surprises for me.
The lawyer who settled this property should be shot, and the true owners clearly did not view any documentation ie HUD Statement, title deed, and why they did not ask for this is very strange.
MTR