Your Dream Home, Your Nightmare Neighbor: Boundary Line Battles
Buyers Of Homes And Commercial Real Estate Need To Be Aware Of Potential Boundary Line Issues, And Of The Only Correct Way To Resolve Them!
The statement in the photo was said to me by a property seller’s attorney. He stated that an affidavit is fine and that 99 out of 100 title companies would allow it to be used. He also said that were he a buyers attorney, he would accept an affidavit in a second!
That’s why creating a Team around you of trusted professionals is so critical in what may be the largest financial commitment of your life.
The Boundary Line Scenario…
You’re buying a home, and the survey says that the neighbor’s fence is 3 feet onto your new property.
The neighbor acknowledges that the property belongs to your soon-to-be house, so the lawyer for the seller and for the buyer speak to resolve the issue.
The sellers attorney wants to resolve the property line disagreement by having their client sign an affidavit saying the property is not theirs.
Quick, clean, and requires no recording with the county. BUT, if that neighbor were to move the agreement is void and the homebuyer next door is now dealing with the boundary line issue again with their new neighbor who may not be so accommodating!
There needs to be a recorded Boundary Line Agreement signed by the neighbor that immortalizes the fact that the property in question belongs to the new homebuyer!
Not as quick and easy, and more expensive, but the only correct way to handle the issue.
Issues like this are covered by #2 in the Hallmark Abstract Service ‘Top 10 Reasons New York Homebuyers Can And Should Choose Their Title Insurance Provider!’ here https://www.linkedin.com/pulse/top-reasons-new-york-homebuyers-can-should-choose-michael-aw12e/.
If you are a prospective buyer of residential or commercial real Estate in New York and are reading this with additional questions, please reach out to us using the contact information below.
Hallmark Abstract Service
Mike Haltman, CEO mhaltman@hallmarkabstractllc.com
Linda Haltman, CFO lhaltman@hallmarkabstractllc.com
Maryann Demato, Chief Title Officer mdemato@hallmarkabstractllc.com
Long Island: (516) 741-4723
NYC: (516) 741-6101
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