Season 1, Episode 4 | Title Nerds

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Partners from Riker Danzig’s Real Estate Practice join Title Nerds hosts Mike O’Donnell and Bethany Abele for the fourth episode, along with fellow Riker Danzig attorney Kevin Hakansson. In the first segment, Mike and Bethany have a conversation with Real Estate partners Josh Greenfield and Jim Maggio about working with title insurance underwriters on big commercial closings. Along with discussing Schedule B exceptions, recommended ALTA endorsements and leasehold policies, Josh and Jim share some thorny title issues they’ve resolved with good title underwriters. They stress how critical the service component is for title companies as a differentiating quality, given that fees are regulated in New Jersey. Next, Kevin Hakansson, a Riker Danzig associate who recently joined the Firm, discusses the case Amran Property Investments, LLC, et al. v Fidelity National Title Group, Inc. in federal court (2021 WL 3883087) in which the plaintiffs, foreign real estate investors who had acquired housing properties in Chicago to lease to tenants, alleged claims of fraud and negligent misrepresentation by Fidelity, seeking to recover their entire property investment amount. Following closing, plaintiffs were notified that the properties were uninhabitable and would require $1 million+ in repairs to be made rentable. The Court granted Fidelity’s Motion to Dismiss and found that the plaintiffs failed to show that Fidelity aided and abetted the buyers’ fraudulent investment scheme, and had no duty to ensure the funds were not misused, as well as failing to state plausible tort claims.