There are mistakes. Then there are doozies. How can we describe transferring title to $497,900 of real estate – but not collecting any money? That’s a mistake that is over 16.5 million times bigger than our earlier post on the issue of 3 ¢.
On December 30, 2005, LHEUC transferred 3 properties to Aqua Lake Holiday Utilities Inc. on Instrument # 060001398. These 3 properties were the land at the wastewater treatment plant, a well site, and a water storage tank. The stated value of the 3 properties was $497,900. The only problem is that LHEUC signed away these 3 properties, but didn’t collect any money! LHEUC treated the transfer like an unimportant event and seemed in no hurry to get its property back. They’ve been adamant that they didn’t get any money. Nearly 3 months later, the mistake was corrected on Instrument # 060005820.
Signing, notarizing, and recording deeds are solemn acts. The assets covered by these deeds are important utility assets and are the subject of a regulatory proceeding. This must be done by people exercising careful judgment.
To characterize this conduct as a mistake is dismissive. It’s a serious lapse in exercising reasonable care and diligence.