InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Annual Reunion Speaking Schedule Store Foreclosure Fundamentals Code References 50 State Foreclosure Basics Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: property on leased land Posted by dond on February 04, 2010 at 4:16 AM In Reply to: property on leased land posted by Dan on February 04, 2010 at 2:30 AM : Not that I would buy one anytime soon, but I am just curious. : - Does a trustee sale clean off the back lease payments? or are you buying subject to them? would it be a lien that show up on title search? : - Can the lessor of the land foreclose? : thank you all. I haven't come across this one before, but I'll take a stab at it. Let's say A owns the land and B owns the improvements. B makes lease payments to A. The lease payments are the personal obligation of B. I see no reason why the lease obligation should become a lien against B's interest in the improvements. I'd say A could go to court, just like any other creditor, and get a judgement lien against B's interest in the property. If that judgement lien were recorded it would then become a matter of public record. Absent a judgement lien, I don't see how back payments on the land would become a lien against B's interest in the property, any more than back car payment s would. If anyone sees the situation differently, let's here your comments. Dond Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Not that I would buy one anytime soon, but I am just curious. : : - Does a trustee sale clean off the back lease payments? or are you buying subject to them? would it be a lien that show up on title search? : : - Can the lessor of the land foreclose? : : thank you all. : I haven't come across this one before, but I'll take a stab at it. : Let's say A owns the land and B owns the improvements. : B makes lease payments to A. The lease payments are the personal obligation of B. I see no reason why the lease obligation should become a lien against B's interest in the improvements. : I'd say A could go to court, just like any other creditor, and get a judgement lien against B's interest in the property. If that judgement lien were recorded it would then become a matter of public record. : Absent a judgement lien, I don't see how back payments on the land would become a lien against B's interest in the property, any more than back car payment s would. : If anyone sees the situation differently, let's here your comments. : Dond [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-date("Y"), InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455