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>51 Sky Top Partners, a Connecticut firm that buys and holds real estate, purchased the property for $350,000. How are we to believe they were scammed and didn
by joecool1029 3y ago
>51 Sky Top Partners, a Connecticut firm that buys and holds real estate, purchased the property for $350,000.
How are we to believe they were scammed and didn't just pay a forger's fee to make it look like a legitimate purchase?
I think the correct way to approach this is for the original owner to seek maximum damages from 51 Sky Top for developing stolen property and leave it to them to pursue their own remedy from the 'fraudster'.
I just don't see how the buyer didn't do any due diligence on this. Didn't check with the county hall of records?
If you buy a stolen car and drive around with it and are caught it's on you to surrender it to original owner and cover any damage you caused to it. You are the suspected thief until you prove otherwise.
- RadixDLT 3y agoIf the buyer wants the property, they will do anything to get it, even overlooking many red flags.
- joecool1029 3y agoSo? That's not a defense of what happened here. The 'buyer' created the mess for the real owner. They have less of a defense since this isn't their first purchase, it's literally their industry to buy and sell properties.
- theogravity 3y agoI'd figure the title insurance company does the DD because they'd be on the hook in situations like this. This is assuming title insurance was purchased, though.
- yomlica8 3y agoI thought this was the entire point of title insurance.
- AnimalMuppet 3y agoIf title insurance wasn't purchased, then whoever thought they bought the property takes the loss.