Putting it simple, what is the point of reporting judgments and tax liens when they never seem to get satisfied? And if you miss one, you get the claim for not reporting it.
Countless times, we have done searches on parcels that we have done in the past, have reported the federal tax lien or judgment only to find that the property was sold but the liens remained open and now we are searching for a refi on the new current owner for the parcel that we had reported open judgments or tax liens a couple years or so back. Why werent those judgments/liens paid at the time of the first closing?
Of course we will continue to report these things but it makes you wonder why these are not getting paid after they have been reported. Isnt the point of doing searches to insure a clear title on property? Also, when you get hit with a claim for a missed judgment or tax lien, does it get satisfied then and if not, why are you or your E&O provider paying it if it does not satisfy the claim?
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