Florida Title Question

Title & Closing
1

Hoping someone might be able to help with what is a bit of a unique situation I’ve encountered on a Florida lot I have an agreement on. I’ll try to summarize the best I can.

  1. There were 3 lots that were bought around the 1960s but a family that appear to have been combined into a single parcel however the county seems to be having some issues and can only find the title of the two book ends and not the middle of the parcel.
  2. When the mother passed the lot was transferred to the daughter however the legal description used seems to cover only the two book end lots again. Basically there is 120ft north south but the legal description covers the northern 40ft and southern 40ft and there is no mention of the middle 40ft in the Deed of Distribution. The county seems to recognize it as a single parcel event though it appears as if it was purchased as 3 individual lots

I’ve looked up and found that Florida has a 30 year marketable title act but not sure if that would cover this situation and due to the cost and value of the lot I’m not really looking to pass this along to a title agency so wondering if anyone experience with Title work in Florida might be able to lend some advice?

2

@jasonpdykstra This is why I always use Title Companies. Not only because they will figure out a solution, but because there’s a high chance you will make a mistake while creating the deeds and paperwork if you’re not a trained professional. I’ve learned this the hard way, and when my buyer re-sold the property, his title company needed me to sign a correction deed for the mistakes I made. I do not recommend self-closing deals that aren’t straightforward.

If the margins are thin and don’t warrant the title company expense, I would recommend wholesaling the deal and passing on the closing costs to the end buyer OR going for bigger deals where closing costs won’t make a significant impact to your net profit.