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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: CA is community Property State so.... Posted by Kristine-CA on April 17, 2009 at 1:26 PM In Reply to: CA is community Property State so.... posted by Bill H on April 16, 2009 at 11:12 PM Hi Bill. I don't know the answer to your question. I do know that if I were looking at the deal the OP was concered about, I'd be looking at the LP to see if the husband filed it himself, or used an attorney. I'd look at the court case that the LP may be connected to (a divorce or other cases). I wouldn't ignore it and think the trustee's sale was was going to make it go away. I'd make sure my title company would be willing to insure without a release. : : My understanding and experience is that an LP isn't wiped out. It's notice, not a lien, not a judgement. A trustee's sale or other transfer doesn't make the notice go away. If a title insurer suspects validity to the claim (as in risk--they're in the insurance biz), they will either refuse to insure and/or ask that it be released. An LP has to be considered, regardless of how ridiculous the claim. Unless you don't care about re-sale and have no need for refinance. : : : I would say 90% of the time thats right, they get wiped off, but not always, it may be worth it to pull the lis pendens and read the basis of the filing. : : : I just had one where I held the note, foreclosed, the trustee sale did not wipe off a junior lis pendens filed after my DOT was recorded, because the lis pendens was disputing whether the prior owner had been properly conveyed title, years prior to my recorded DOT. No title company would insure it until I went back to the plaintiff and had the subject property removed from the claim. It took many months to resolve this issue, and was a real pain. I also filed a claim with my title insurance company (I had an ALTA lenders policy), of course they first stonewalled, then stalled, then asked for pounds of paperwork to substantiate my claim. They sure dont pay claims nearly as easily as they collect policy premiums. : : : : : : : Brian, : : : : No worries...because a lis pendens is not a lien! : : : : It's just a recorded notice that a legal matter involving the real property is currently being litigated in a local court. If you take the time to read the main paragraph within the notice it will almost always turn out to be an argument over ownership of the property. : : : : And since ownership issues are always the most junior interest to any property, then whoever is ultimately determined to be the owner is subject to being wiped off title by the ongoing foreclosure of any lender's lien. : : : : : : : : -------Ward : : : : : : : : ============ : : : : : : : : : Hi Ward, Rick & Pros, : : : : : Does foreclosing a senior lien wipe off a Lis Pendens? I have a case that senior lien is going to trustee sale tomorrow, but I found a Lis Pendens recorded later than the senior lien against this property. : : : : : Thanks in advance, : : : : : Brain : : What happens if he is prevails in his claim of interest in the property and say he was not properly served, etc??? : Good luck, : Bill H Follow Ups: I agree... Rick, the Probate Guy 2:40 PM, 04/17/09 (1) frivolous LPs Kristine-CA 6:28 PM, 04/17/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Hi Bill. I don't know the answer to your question. I do know that if I were looking at the deal the OP was concered about, I'd be looking at the LP to see if the husband filed it himself, or used an attorney. I'd look at the court case that the LP may be connected to (a divorce or other cases). I wouldn't ignore it and think the trustee's sale was was going to make it go away. I'd make sure my title company would be willing to insure without a release. : : : My understanding and experience is that an LP isn't wiped out. It's notice, not a lien, not a judgement. A trustee's sale or other transfer doesn't make the notice go away. If a title insurer suspects validity to the claim (as in risk--they're in the insurance biz), they will either refuse to insure and/or ask that it be released. An LP has to be considered, regardless of how ridiculous the claim. Unless you don't care about re-sale and have no need for refinance. : : : : I would say 90% of the time thats right, they get wiped off, but not always, it may be worth it to pull the lis pendens and read the basis of the filing. : : : : I just had one where I held the note, foreclosed, the trustee sale did not wipe off a junior lis pendens filed after my DOT was recorded, because the lis pendens was disputing whether the prior owner had been properly conveyed title, years prior to my recorded DOT. No title company would insure it until I went back to the plaintiff and had the subject property removed from the claim. It took many months to resolve this issue, and was a real pain. I also filed a claim with my title insurance company (I had an ALTA lenders policy), of course they first stonewalled, then stalled, then asked for pounds of paperwork to substantiate my claim. They sure dont pay claims nearly as easily as they collect policy premiums. : : : : : : : : : Brian, : : : : : No worries...because a lis pendens is not a lien! : : : : : It's just a recorded notice that a legal matter involving the real property is currently being litigated in a local court. If you take the time to read the main paragraph within the notice it will almost always turn out to be an argument over ownership of the property. : : : : : And since ownership issues are always the most junior interest to any property, then whoever is ultimately determined to be the owner is subject to being wiped off title by the ongoing foreclosure of any lender's lien. : : : : : : : : : : -------Ward : : : : : : : : : : ============ : : : : : : : : : : : Hi Ward, Rick & Pros, : : : : : : Does foreclosing a senior lien wipe off a Lis Pendens? I have a case that senior lien is going to trustee sale tomorrow, but I found a Lis Pendens recorded later than the senior lien against this property. : : : : : : Thanks in advance, : : : : : : Brain : : : : What happens if he is prevails in his claim of interest in the property and say he was not properly served, etc??? : : Good luck, : : Bill H [ 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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