So if I understand what you are saying, there was no "Title Insurance" so to speak ?
Unbelievable !
Do deals at this level go through an outside LPO/escrow service, or is it handled solely through the attorneys of the principals ?
If it is the latter, omission of provision for unencumbered title would be a MAJOR FADE.
Something that basic is usually included in pre-printed legal forms one can buy at the stationary store!
If the attorneys "forgot" that little detail, I hope they are paid current on their errors and omissions insurance !
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