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30 July, 13:51

Licensee jones is in the process of closing on a sale. however, the property title has been found to have uncorrectable defects. what is the result regarding jones compensation?

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  1. 30 July, 14:13
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    A title that has uncorrectable defects is considered a defective title. Any transaction that involves a defective title is declared invalid.

    A title is invalid maybe because of the following factors:

    -issues in the content of the document that doesn't comply with real state standards

    -incorrect record of ownership

    -lack of signatures of anyone in the party that is necessary to the transaction and etc.

    In Licensee Jones' case, it means that he will receive nothing from it. Unless, he will be able to solve the problem of the issue in the title.
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