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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Date of recording dictates priority. Posted by Randi on March 13, 2002 at 10:59 PM In Reply to: Re: Date of recording dictates priority. posted by Ward-CA- on March 12, 2002 at 8:51 PM : : Concerning the lien...it was filed in 1990, but this guy didn't buy the property until January 2001. That would mean that the lien is still valid, even after the trustee sale, right? : : Randi : ================= : Technically yes, but what bothers me is that most traditional lenders won’t make a loan that’s junior to such a lien, and yet you say this lender did. : So if the scenario occurred as you state then I’d have to say YES the lien survives the later recorded institutional lien. I hadn't thought of that, I will have to research it. I've found places in CA Civil Code where the lender is not allowed to charge pre-payment penalties or more than $250 in legal fees, so I think that I have something to work with. I would much rather have the property than to have to go to court, though. Thanx for all the help!!! Randi Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : Concerning the lien...it was filed in 1990, but this guy didn't buy the property until January 2001. That would mean that the lien is still valid, even after the trustee sale, right? : : : Randi : : ================= : : Technically yes, but what bothers me is that most traditional lenders won’t make a loan that’s junior to such a lien, and yet you say this lender did. : : So if the scenario occurred as you state then I’d have to say YES the lien survives the later recorded institutional lien. : : I hadn't thought of that, I will have to research it. : I've found places in CA Civil Code where the lender is not allowed to charge pre-payment penalties or more than $250 in legal fees, so I think that I have something to work with. I would much rather have the property than to have to go to court, though. <sigh> Thanx for all the help!!! : Randi Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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