3rd Circuit Addresses What Constitutes 'Good and Marketable' Title
In this article, Martin J. Doyle and Bruce P. Bowen, partner and special counsel, respectively, in Saul Ewing's Real Estate Practice Group, cover the 3rd Circuit Court of Appeals' opinion in Scott v. Turner.
The case raised numerous issues including at what point "in the spectrum of probability of a lawsuit" does title to real property become "unmarketable?" The authors note that the opinion fails to clarify whether title can be "marketable" if the seller sells the property without warranty of title and subject to existing claims no matter how remote. The article concludes saying that perhaps a smart question for potential sellers of real property to ask themselves prior to a sale is whether they would buy the property with the risk of litigation presented.