Hooper v. Commonwealth Land Title Insurance

VAN der VOORT, Judge:

Appellant was the seller of a certain tract of real estate. Appellee issued a policy of title insurance to the third party buyer of appellant’s tract. In conducting a title search appellee discovered a judgment of record against the seller in the amount of $37,155.09. At the time of closing, May 30, 1974, appellee withheld $37,155.09 from the vendor’s proceeds from the sale. This amount was forwarded to the judgment creditor on the same day of settlement. The creditor failed to enter satisfaction of the judgment until March 10, 1977. On January 26, 1977, appellant applied…