Casenotes

This section contains all the casenotes published in our monthly newsletter, Casenotes & Underwriters' Bulletin, plus additional case law the ATG Underwriting Department identifies as noteworthy for ATG member agents.


06/20/2012 - 2:21pm

Summary: A lender’s acquisition of the mortgaged property at a sheriff’s sale entitles a guarantor to an offset equal to the value of the property.

McFarland State Bank v Sherry, 2010 AP 2473 (Wis. Ct. App., 2011).

Facts: Earl Sherry (Sherry) gave a personal guarantee on a loan,...

06/20/2012 - 2:11pm

Summary: It does not contravene public policy to hold a title insurance agency liable for negligence based upon the actions of its agent.

Olson v Zurich American Ins. Co., 2010 AP 1207 (Wis. Ct. App., 2012).

Facts: Thomas L. Olson (Olson) had a real estate transaction from which he...

06/08/2012 - 4:36pm

Summary: Title companies can have liability for negligent misrepresentation to buyers who relied on the commitment despite not having been named a proposed insured. 

Izynski v Chicago Title Ins. Co., 963 NE2d 592 (Ind. Ct. App., 2012).

Facts: Patrick McLane contracted to buy...

05/25/2012 - 1:43pm

Summary: Under the Truth in Lending Act (T.I.L.A), a signature on an acknowledgement of receipt of documents creates a presumption the person received the documents, but it does not shift the burden of persuasion.

Marr v Bank of America, 662 F3d 963 (7th Cir., 2011).

Facts: On...

05/25/2012 - 1:24pm

Summary: Notice by abode service is sufficient to enter a personal deficiency judgment against a defendant who does not appear in court.

Metrobank v Cannatello, 2012 Il App (1st) 110529, 964 NE2d 656, 357 Ill Dec 977 (1st D, 2012).

Facts: Frank Cannatello gave a mortgage in May...

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