Gilchrest House, Inc. v. Guaranteed Title & Mortgage Co.

On March 7, 1947, plaintiff became the owner of certain property in Nassau County, at which time defendant issued its policy of title insurance to plaintiff. On March 17, 1948, plaintiff contracted to sell the property to Ronor Realty Corp. for $57,000. Ronor rejected title because of an *789alleged restrictive covenant. Defendant was notified of Honor’s rejection of the title and the reasons therefor, at which time defendant, in effect, stated that the reasons were insufficient. On June 11, 1948, plaintiff contracted to sell the property to Calagna and Albert for $50,600, the contract providing…