Don"If a dispute arises out of or relates to this agreement, or breach thereof, and if said dispute cannot be settled by negotiation, the parties agree to first to try to settle the dispute by mediation under the Commercial Mediation Rules of the American Arbitration Association before resorting to arbitration, litigation, or some other dispute resolution procedure."
My experience is - only if they will assume title to the property as a result of the payout. Otherwise, they have no obligation in regards to any incumberances that might exist.Teetorbilt said:A guy in a condo stiffs you to the tune of 8K. He owns the condo but leases the grounds. You put a lien on the condo. The condo is condemned due to storm damage and the guy is going to collect ins. for his loss.
Will the ins. company do a title search prior to disbursing the funds to the deadbeat?
I would take the time to confirm that the lien is still in place and remind the condo owner of same.Teetorbilt said:It has been 3 yrs. and you have recovered from the loss, should you just walk