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Can title insurer file proof of claim in bankruptcy?
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Court Report
Monday, October 23, 2017
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Relying on representations made to its insured that its insured would have a first priority lien on property, a title insurer issued a title policy to its insured lender when it provided a loan to purchase property in Nevada. It was discovered that the property owner did not provide its insured with first priority. When the property owner filed for Chapter 11 Bankruptcy proceedings, the title company filed a proof of claim, but was denied because it was in privity with its insured. The title insurer appealed. Read on for more details.
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