A title insurer can be liable for attorney theft of a homebuyer's funds if it fails to directly tell the client it is not responsible for any misdeeds, a New Jersey appeals court held on Tuesday. Simply sending notice to the buyer's attorney is not enough, the court said. The court rejected the carrier's argument that a disclaimer notice, included as part of the commitment packet sent to the closing attorney, can be imputed to clients who are victims of his theft.
August 06, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A title insurer can be liable for attorney theft of a homebuyer’s funds if it fails to directly tell the client it is not responsible for any misdeeds, a New Jersey appeals court held on Tuesday.
Simply sending notice to the buyer’s attorney is not enough, the Appellate Division said in New Jersey Lawyers’ Fund for Client Protection v. Stewart Title Guaranty Co., A-2622-07.
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