Talk of The Villages Florida - View Single Post - Am i legally obligated to pay property taxes missed by the title co.?
Thread: Am i legally obligated to pay property taxes missed by the title co.?
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Old 05-12-2020, 03:54 PM
retiredguy123 retiredguy123 is offline
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Quote:
Originally Posted by Jayhawk View Post
Title Insurance does not protect the seller in a real estate transaction. It protects the BUYER, and coincidentally the Lender if there is one. Since the attorney / title agent missed it he may have to pay it to make the buyer whole, but he has full legal rights to pursue the seller for reimbursement.

Subrogation Definition
I don't think title insurance applies at all in this situation. The closing attorney made a calculation error and notified the seller in a timely manner. The seller owes the property tax. I may agree that title insuance may apply if this error was not discovered until several years later, but that is not the case.