DO I NEED A LITIGATION GUARANTEE IN LAWSUITS INVOLVING PROPERTY?
At ANAND LAW, we are both real estate attorneys and real estate brokers. Combining expertise, we add value, reduce overall cost, and maximize efficiency for our clients involved in real estate disputes. These disputes often arise between co-owners, neighbors, and lenders. When parties disagree as to the ownership of real property, quiet title, partition, and foreclosure actions can be used to force a resolution. Examples of these types of disputes include disagreement as to who holds title or how much they hold, and disagreement as to the the priority of liens. In any of these types of disputes, it is important to consider, and almost always important to obtain, a litigation guarantee.
LITIGATION GUARANTEE
An action for partition will not be effective as to parties that are not named in the lawsuit. Thus, it is critical that all lienholders (e.g. lenders, judgment creditors), co-owners, lessees, and others with possible claims to the land are all named in the lawsuit. Depending on the situation, it may be prudent for parties to attempt negotiation before filing a lawsuit. Secured lenders should be notified in order to avoid defaults, and to try to reach an agreement as to their treatment in the pending sale.
A Litigation Guarantee is a type of title insurance policy that protects a co-owner against claims from unknown parties. Essentially, the Litigation Guarantee provides information on all parties that claim interest to the subject land, and is the best way to determine all lien claimants. The Litigation Guarantee also provides information on the priority of the liens held. If, after completion of the partition or quiet title action, a party comes forward that was not listed in the Litigation Guarantee policy, the title insurance company is responsible for defending against these claims.
A Litigation Guarantee is a complex title insurance policy. Contact ANAND LAW for experienced, aggressive & practical representation regarding your real property matter. We have helped homeowners and commercial property owners / lessees with real estate issues in Los Angeles, Orange, San Bernardino, Riverside, San Diego, San Luis Obispo and Santa Barbara counties, and have successfully litigated real property disputes on behalf of both plaintiffs and defendants, in both State and Federal Courts, including ownership disputes, lien priority disputes, and fraudulent transfers / fraudulent recordings. We will evaluate your situation to determine if negotiation, litigation (in State, Federal or Bankruptcy Court), or a combination of the foregoing is the best solution for you. Contact us today.
ANAND LAW represents businesses and individuals, in State and Federal Courts (including Bankruptcy Courts) regarding a variety of real estate issues. The attorneys at our law firm are real estate experts (both attorneys and brokers), committed to maintaining a deep knowledge of the law and tenaciously representing our clients. We also act as a court-appointed partition referee and maintain a network of real estate brokers throughout Southern California. ANAND LAW proudly serves the cities and areas of Los Angeles, Pasadena, Arcadia, Burbank, La Canada Flintridge, Covina, West Covina, Downey, Santa Monica, Glendale, Eagle Rock, Hollywood, Atwater Village, Echo Park, Glassell Park, Loz Feliz, Silverlake, Highland Park, Boyle Heights, Hancock Park, Cheviot Hills, Koreatown, Miracle Mile, Mid City, Venice, Van Nuys, Encino, Studio City, Sherman Oaks, Panorama City, North Hills, West Hills, Thousand Oaks, Calabasas, Granada Hills, Long Beach, Glendora, Anaheim, Inglewood, Santa Ana, Beverly Hills, Pomona, Marina Del Rey, Playa Del Rey, Mar Vista, Culver City, Cheviot Hills, Holmby Hills, Westchester, El Segundo, Hermosa Beach, Redondo Beach, Manhattan Beach, Huntington Beach, Orange, Irvine, Costa Mesa, Newport Beach, Moorpark, and communities throughout Los Angeles, Orange, Santa Barbara, Riverside, San Bernardino, San Luis Obispo, San Diego and Ventura Counties.