ignorance, judgment, neighbors
SO my wife and I bought our first MH finally! But first lets rewind. About a year and a half ago, we bought our first home, 2000 square ft absolutely beautiful in a quite dead end neighborhood. I k...
Forum Discussion
SolidAxleDurango wrote:
I guarantee a title search was required by the lender.
HOWEVER, the lender is not interested in covenants. They are only interested in title chain and claims to the title.
A lender would certainly examine the Title for any encumbrances that may affect the lender's interest- restrictive Covenants may/may not do so.
That's not the same thing as a full search, and it certainly doesn't mean that Insurance is purchased in behalf/name/benefit of the borrower.
That protection has to be purchased by the buyer, and in that transaction the full Title search conducted is meant to turn up ALL encumbrances affecting the property's Title, and that includes restrictions on its use.
