Asked by Sean Meehan, Salem, NH • Sat Aug 11, 2012
A property we are looking at was under a P&S contract in 2010, but the sale fell through because of questions concerning the property title. The issue was that part of the house sits on land owned by an association (with 150 members). The sellers purchased the land but there was a clause in the deed that stated anyone who had access to this land before still had access. Since then, there was an association resolution ratifying the land sale and confirming that â€œthe remaining common land adjacent to the property provides members with adequate access to the beach, and that the 2008 transfer of common land did not impair any beach rights of the Members or the Association or any rights of the Association or the Members to access the beach area.â€ The sellersâ€™ attorney wants the P&S changed from marketable title to insurable title. We are worried about how this will affect our ability to re-sell the property in the future.
Real Estate in Naples
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