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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Real Estate Law
Satisfied Customers: 19130
Experience:  B.A.; M.B.A.; J.D.
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Purchased property years ago and build 2 homes on the

Customer Question

Purchased property years ago and build 2 homes on the property. My Finances (Debt) made it vital that I sale, so last year I put the property up for sale, and the State of Alaska stopped the sale, claiming they owned the property.
At the time of purchase, we used a Title Company to make sure the title was clear, and purchased Title Insurance. Since then I have put in a claim with the Title Company and they purchased our mortgage and started negotiating with the State. In the meantime, the original reason for needing to sale has not gone away and has been exasperated due to time and interest.
The Title company seems to be dragging their feet, is there be a time frame for how long they can drag this out? What is their responsibility for damages to my finances? How do I know what is the right amount to settle, if/when they offer a settlement?
I tried to hire an attorney, but everyone asked for a 10K retainer, which I cannot afford.
Any advice is appreciated.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Phillips Esq. replied 1 year ago.

Three months is a reasonable time for the Title Company to resolve the issue or pay your purchase price for the property plus your equity in the property. Otherwise, you would need to file lawsuit against the Title Company to force them to pay.