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As your previous Expert stated, your loan documents might include a clause which permits a change in the description because of a scrivener's error. You certainly have a right to know how HSBC came into the picture so that you know with whom you are dealing and why.
Rather than be burdened with determining what has happened, you should immediately file a claim with the title insurance company who issued your title report because that is the main purpose for buying title insurance. The title insurance company insured, among other things, the description and your title to the description of the property. This obligates them to defend against any changes and to compensate you for any diminution in the value of your property. There is a definite time limit to filing a claim with the title company which insured your title and it is specified in the title policy they issued to you. Therefore, filing a timely claim is absolutely necessary to preserve your rights and have the title company step in, thereby saving you a lot of time, frustration and grief,
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Hi, Thank you for your reply,
If the same title insurance company has been involved in insuring this particular title, I can understand why it has gone on for so long. Where the same title company is involved, they do not do a complete search when a new owner is acquiring title; they only do what is called a "Bring down" which means running the title from the last conveyance up to the present time, so if a mistake was made in the description, or in any other aspect of the title (other than checking for judgments, mortgages, liens, etc.), than the property's description would not change until someone caught the mistake, had a survey done, or another title insurance company became involved and did more than just a "Bring down". So, this is probably what happened here.
You do not need to incur legal fees. These are exactly the defects for which a buyer purchases title insurance. File your claim on your own with your title insurance company. There are no two ways about it, they are obligated to take care of this for you. If, by some chance, they deny your claim, then you should retain a lawyer. This is the perfect example of bad faith on the part of the title insurance company. These cases are generally taken on a contingency fee so that you still would not have to incur any legal fees and the attorney would be paid from any settlement, verdict, or judgment. The attorney would negotiate with the title insurance company and simultaneously file a lawsuit against the title insurance company and would include a "Bad Faith" claim. Bad faith claims result in punitive damages and translated into monetary figures, amounts to three times the Plaintiff's ordinary damages. Therefore, if your ordinary damages were, for example, $25,000, then punitive damages would be three times that amount which would be added to ordinary damages, resulting in a total recovery of $100,000 ($25,000 x 3 = $75,000) $25,000 + $75,000 = $100,000,
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