Title Insurance Co. of Minnesota v. Costain Arizona, Inc.

OPINION

CONTRERAS, Presiding Judge.

Appellant Title Insurance Company of Minnesota (hereinafter “TICOM”) provided title insurance to Talley Realty Development, Inc. (hereinafter “Talley”), in its purchase of a large parcel of real property from Costain Arizona, Inc. (hereinafter “Costain”). Talley subsequently recovered a significant sum of money from TICOM under the title insurance policy because Talley did not receive title to a 15-foot strip of land that was included in the purchase agreement. TICOM, in searching title, had failed to note that Costain no longer owned any interest in the…