There was a house on Nantucket (airport)

[mikea]

There was a man from Nantucket, buys a house next to the airport for $1.5M, pays texes and then gets told that the land belongs to the airport.


http://www.boston.com/news/local/articles/2007/04/02/whose_nantucket_land_couple_airport_do_battle/

I think the town is in deep doo-doo. I think the lax claim on the title and collecting taxes means they get to buy the land. Would the title insurance still cover this if the couple loses?

 

[Skip Miller]

Would the title insurance still cover this if the couple loses?

Probably. If they were insured with good title of the land (i.e., there was no mention in the title policy exceptions of the airport's claim on the land), then they should have a great claim against the title insurance company. If there was some possibility of the airport's claim in the policy exceptions, then it is a court battle. Sad.

-Skip

 

[inav8r]

I think it ultimately is going to come down to how their land may (or may not) be in the way of airport expansion and development. That is, after all, what eminent domain is for. :|

Sucks to be that homeowner, but there's little they can do but wait for the courts to decide.

 

[RogerT]

I think it ultimately is going to come down to how their land may (or may not) be in the way of airport expansion and development. That is, after all, what eminent domain is for. :|

Sucks to be that homeowner, but there's little they can do but wait for the courts to decide.

What about the seller? Aren't they under an obligation to disclose all
possible issues relating to the property?

 

[Skip Miller]

What about the seller? Aren't they under an obligation to disclose all possible issues relating to the property?

No. They are under an obligation to disclose all issues that they are aware of.

-Skip