Is It Legal For Realtor To File Caveat Against Title?

[therealpotentials]

The full scenario:



The year was 2007. We used to live in a duplex. We were buying a new house with the plan of selling the duplex and use its profit as down payment for the new one. The builder, Reid-Built, has some kind of tie-up with Dynateam Realtors that agreed to sell my duplex for such a purpose. But what happened was, I didn't need to sell my duplex because the mortgage company didn't need any more money from the sale. That means, the Dynateam realtor didn't have to sell my house. With the loss of his commission from what he was expecting from the sale of the duplex, he filed a caveat against the title of my duplex. Up till now, 2011, the caveat is still there. Is this even legal? Up till when should, could, would that caveat be on my property. Am I obligated to give him commission for a job he didn't do?



What should I do about it? Even when I have to refi the property, I would need the realtor's permission because of that caveat. Isn't that funny?



Any input on this situation is highly appreciated. Thanks in advance.

 

[Thomas Beyer]

[quote user=therealpotentials]What should I do about it?


You can file an application to strike it off the title. Essentially the notice says "We will strike you off the title in 4 weeks unless you object". Ask a (knowledgeable) lawyer to do that for you !



Now, depending on contract you signed he may have reason to object - not clear from your post/contract !

 

[ChrisDavies]

If you walked after there was a firm deal, or the listing agreement you had clearly lays out what you were supposed to pay, you'll likely be stuck with it. If not, you'll likely be able to have the caveat struck, but you should call the Realtor first and see what the story is now. They may not remember they did it.

 

[therealpotentials]

Thanks, Thomas.



I, did, contact my lawyer to look into it.

 

[Jeffersonn]

I have looked into your case and I am afraid it is quite complex one.To be honest with you ,i don't want to give any amateur suggestion but in my view, you should arrange a meeting with your lawyer and file a suite immediately against the builder.



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[Thomas Beyer]

[quote user=Jeffersonn]file a suite immediately against the builder.




filing a law suit is very expensive .. all you need is a "notice to strike" i.e. a notice that you dispute someone's caveat .. then they MUST respond (in 30 days or so) .. and if not, it'll come off the title .. far cheaper and far faster ..

 

[Nir]

Good point! Always something to learn from Mr. Beyer.

 

[therealpotentials]

What do you mean by "If you walked after there was a firm deal"?



I cannot find a copy of the listing agreement anymore, but I'm sure it didn't lay out how much exactly I'm suppose to pay.



I'd like to know if there's a certain length of time when a listing agreement would hold valid? Isn't it just a maximum of one year?



If I do file a "notice to strike" as what Thomas Beyer is saying, considering that the caveat was filed in 2007, and it's already 2011..would there be an assurance that the realtor wouldn't have any means of filing a lawsuit to contest his claim?



What do you mean when you said, "you'll likeley be stuck with it"? for how long? and for what ground?

 

[Thomas Beyer]

once a listing expires realtor usually has the right to get commission if he introduced a client when he had the listing, but the client bought within 6 months of expiry.



Having said that, anyone can sue you for anything, at anytime. If they win or have a case, that is another story !

 

[bizaro86]

[quote user=Jeffersonn]I have looked into your case and I am afraid it is quite complex one.To be honest with you ,i don't want to give any amateur suggestion but in my view, you should arrange a meeting with your lawyer and file a suite immediately against the builder.



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You must have big filling cabinets if you can fit a whole suite in them!



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