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Old Republic National Title Insurance Companyv.Rm Kids, LLC

CourtCourt of Appeals of Georgia
Docket No.A16A0257
DecidedJune 29, 2016
Reporter291 Ga. App. 416
JudgesCourt of Appeals of Georgia
Tags
CivilInsurance LawProperty LawContract InterpretationDamagesSummary JudgmentReversalRemand
Case Summary

Old Republic National Title Insurance Company and RM Kids appealed after a jury awarded RM Kids $7.1 million in a title-insurance dispute involving a foreclosed property. The Court of Appeals reversed the ruling fixing the date used to measure the insured loss because the evidence and the governing policy did not support that calculation. The error affected the amount of damages and required a retrial on the valuation issue. The court affirmed other rulings, including the admission of expert testimony and summary judgment for Old Republic on RM Kids’s bad-faith claim. It also affirmed the directed ruling against RM Kids’s separate prejudgment-interest claim. The court explained that a title-insurance loss is measured under the policy and the property interests actually insured, and that prejudgment interest depends on whether the amount is liquidated under Georgia law. The judgment was therefore affirmed in part and reversed in part, with the case remanded for retrial and further proceedings. A related cross-appeal was resolved consistently with those rulings. Two judges concurred.

Opinion

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Old Republic National Title Insurance Company v. Rm Kids, LLC — The Atlanta Gleaner