Saturday, October 26, 2013

And Yet Another Claimant Heard From

....and once again - the title company is not making an admission of being in the wrong and yet they are willing to pay something (I did advise against just using their appraissal as they will just low ball the problem in my experience) - but here is another good example of how confusing the process is and how the claims counsel does not truly appear to be there for the client/customer/us.
 
 
"Just got an email from the title insurance company...it's a bit greek to me...mind reading it and giving your opinion on it?

Thanks,"

 

Good morning:

One of our options under the policy in the case of a claim is to determine what the loss would be, whether or not we believe there is coverage.  In this case, here is an easement across most of the paved area on Lot 8 so it appears to be a trespass, not a title issue.  Also, because there does not appear to be a recorded easement for the storm drain that allegedly runs through Lot 9, it too would appear to be a trespass and not a title issue.
 
Under the policy, the measure of loss is the difference, if any, in the value of the property with and without the issues in question.  Although we do not concede that there are claims or rights to the property that were not excepted from coverage, we have opted to determine the diminution in value attributable to the paved driveway and the underground storm drain.  If you have any ideas of what you believe the loss to be, then please let me know.  Otherwise, I will retain an appraiser to evaluate the property and provide a value.

 Thank you,