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Foreclosure on Pooled Investment and 1 Party Defaulted

March 04, 2017 12:07PM
A property was purchased by an investment company who later sold interests to investors. The investment company put the investors names and the investment company on title in equal proportion to their investment. The investment company had the seller carry back the loan. The investment company eventually stopped making payment to the seller and the other investors weren't notified. When the investors found out about the pending foreclosure, they filed a lis pendance to encumber the property. The seller foreclosed on the property anyway and sold it to another investment company who used a trust using the property address as the Trust Name. My questions are

1) do the investors have any rights to regain the property (or some of their investment) since they were on title and they did not make the original loan to the seller who was carrying back the loan...which was is in first position?

2) HOWEVER, the investment company who made the loan to the seller only owned a 40% interest in the property and the remaining was held by investors. Do the investors have any hope in regaining some of their money?
Subject Author Views Posted

Foreclosure on Pooled Investment and 1 Party Defaulted

caligirl 4076 March 04, 2017 12:07PM

Re: Foreclosure on Pooled Investment and 1 Party Defaulted

MarkS 2442 March 06, 2017 10:38AM

Re: Foreclosure on Pooled Investment and 1 Party Defaulted

Rumrill_75 2332 July 16, 2017 11:31PM

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