Escrow & Title
In Wyoming, a buyer who takes title subject to an existing lien that was not disclosed by the seller may:
AHave no recourse since they accepted the title
BSue the seller for breach of warranty and seek indemnification✓ Correct
COnly file a claim with their title insurance company
DAccept the lien as part of the purchase price
Explanation
If a seller conveys property with undisclosed liens that were warranted against in the deed or purchase contract, the buyer may have a claim against the seller for breach of warranty or misrepresentation. The buyer's title insurance company (if they have one) may also provide coverage for the undisclosed lien.
Related Wyoming Escrow & Title Questions
- In Wyoming, the 'race-notice' recording statute means:
- A quitclaim deed in Wyoming transfers:
- In Wyoming real estate closings, the role of the escrow agent is to:
- A Wyoming title search typically covers:
- Which of the following liens has the highest priority in Wyoming?
- In Wyoming, an owner's title insurance policy protects:
- In Wyoming, constructive notice of title is provided by:
- At a Wyoming closing, the buyer's closing costs typically include all of the following EXCEPT:
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