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Real Property Law
Historic District Designation Not Covered By Title Insurance
Fawn Second Avenue LLC v. First American Title Insurance Co, 2022 WL 2666922, U.S. Dist. Ct, SDNY (Failla, J.).
In an action on title insurance policy, title insurer moved to dismiss the complaint. The court granted the motion, holding that losses due to the building's landmark designation were not covered by the title insurance policy.
When landowners purchased the property at 82 Second Avenue in Manhattan, they purchased a title insurance policy. Two years later, when they sought to improve the property by installing a roof failing, replacing windows, adding signage, and painting the storefront, the city's Landmarks Preservation Commission demanded that the work stop immediately because the land is on a site within the East Village-Lower East Side Historic District. Landowners then made a claim on the title insurance policy, which the insurer denied. Landowners then brought an action in State Supreme Court, which the title insurer removed to federal district court. The title insurer then moved to dismiss the complaint.
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