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Land Bank discusses title problems, considers bonding and title-company solutions
Summary
Board members debated the limits of quitclaim deeds, quiet-title timelines, and whether the land bank can use bonds or guarantees to persuade title companies to insure formerly-tax-foreclosed properties.
Fort Scott Land Bank members spent substantial time on Sept. 16 discussing how to obtain insurable, marketable title for properties acquired at tax or sheriff's sales and whether the land bank should pursue bonding or other mechanisms to satisfy title companies.
Board members and staff described a pattern: many parcels arrive with clouded title or liens and have been conveyed to the land bank by sheriff's sale, often…
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