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Property purchasers sue settlement agent for negligent misrepresentation
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When a couple purchased property to be developed in Tennessee, their settlement agent informed them that all prior liens would be taken care of and that they were purchasing title insurance as part of the transaction. Title insurance was never purchased on their behalf and though the settlement agent made efforts to pay off the existing mortgage on the property, those efforts failed and the property eventually went into foreclosure. The couple sued the settlement agent for, among other things, negligent misrepresentation and violations of the Tennessee Consumer Protection Act. Read on for more details.
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