Closing with hold harmless with title

[Maxime]

Jurisdiction

Florida

Dear All,

I would need your lights to help understand what can be the risks in my current situation.
Basically, I'm about to buy an apartment and the issue is that the seller has a litigation with his previous property management company and until last week the deal was impossible as there was a lis pendens on the property. However this yesterday the lis pendens has been removed but the litigation remain.
The title company is telling me that they are ok to close only if I sign a hold harmless with them at closing date.

The issue is due to the fact that the litigation is linked to the payment of the apartment as the plaintiff used his own funds to buy the property on behalf of the seller. Therefor it is directly linked to the apartment (even if there is no lis pendens).

What are the solutions ? Should I sign the hold harmless ? Can I add something in the contract preventing the plaintiff to ask for the property after the sale ?

Thanks in advance for your help.

Regards,
Maxime.

 

[adjusterjack]

What are the solutions ? Should I sign the hold harmless ? Can I add something in the contract preventing the plaintiff to ask for the property after the sale ?

Complicated and risky for you.

If it was me I wouldn't be signing anything or closing until the lawsuit is settled.

I don't scare easily when it comes to buying real estate but I would walk away from that potential bear trap.

I suggest you consult a real estate attorney of your own.

 

[zddoodah]

What are the solutions ?

You expect folks on the internet to come up with solutions to an issue that you've only vaguely described in a couple short (and somewhat poorly written) paragraphs?

Should I sign the hold harmless ?

If some anonymous stranger responded with resounding "yes," would you really follow the advice of that anonymous stranger?

Can I add something in the contract preventing the plaintiff to ask for the property after the sale ?

You can add anything to a contract if the other party agrees and, conversely, can add nothing to which the other party doesn't agree.

Your issue cannot be resolved on an internet message board. If you want to proceed with this transaction, you'd be a fool not to hire an attorney to review the situation thoroughly and advise you.

 

[PayrollHRGuy]

I'd run not walk away from this deal.

 

[army judge]

I'd run not walk away from this deal.