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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Marshall sale / Questions Posted by Eric - CA on August 21, 2001 at 11:34 AM Yes Ward, I have read your post at http://www.trel.com/wwwboard/messages/8136.html but still have questions. I may want to bid at a United States Marshal's sale (same as a Sheriff's sale?). There are some items in the notice of Marshal's sale that give me some trouble and I would like/need clarification. Here is a paraphrase of some of the troubling parts: ...By Decree of Sale issued under US District Court on a judgement awarded against J Jones and A Jones, wherein stipulation of G Jones disclaiming interest in the property, I will offer for sale ..... ...The realty shall be free and clear of any interests of J Jones, A Jones, G Jones, The X Trust Company and the United States of America or any other defendant in this action... ...The sale shall be subject to confirmation by the US District Court... ...Upon confirmation the US Marshal shall execute and deliver a quit claim deed conveying the realty to the purchaser... ...Bidders should refer to the court' decree of sale and to 28 U.S.C. Section 2001(a) and, 2002... ...Minimum bid $125,000 Where to start. Title search, reviewing court decree? Free and clear of defendants only? Does this means all other liens remain in place. A title search should show the lien holders and then I will do thorough search myself. But what to look for? Subjet to confirmation? For how long? Is that a problem? I get a quit claim deed, is that acceptable? Can I get title insurance? What is the biggest mistake I am going to make? What's missing? If $125k is a bargain, why not make the minimum higher? And if these types of sales represent .1% of sales, should I expect many bidders? Thanks for everyones help. Follow Ups: Re: U.S. Marshal sales Ward-CA- 6:44 PM, 08/21/01 (1) To recap w/another Q Eric - CA 10:24 AM, 08/22/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Yes Ward, I have read your post at http://www.trel.com/wwwboard/messages/8136.html but still have questions. : I may want to bid at a United States Marshal's sale (same as a Sheriff's sale?). There are some items in the notice of Marshal's sale that give me some trouble and I would like/need clarification. Here is a paraphrase of some of the troubling parts: : ...By Decree of Sale issued under US District Court on a judgement awarded against J Jones and A Jones, wherein stipulation of G Jones disclaiming interest in the property, I will offer for sale ..... : ...The realty shall be free and clear of any interests of J Jones, A Jones, G Jones, The X Trust Company and the United States of America or any other defendant in this action... : ...The sale shall be subject to confirmation by the US District Court... : ...Upon confirmation the US Marshal shall execute and deliver a quit claim deed conveying the realty to the purchaser... : ...Bidders should refer to the court' decree of sale and to 28 U.S.C. Section 2001(a) and, 2002... : ...Minimum bid $125,000 : Where to start. Title search, reviewing court decree? : Free and clear of defendants only? Does this means all other liens remain in place. A title search should show the lien holders and then I will do thorough search myself. But what to look for? : Subjet to confirmation? For how long? Is that a problem? : I get a quit claim deed, is that acceptable? Can I get title insurance? : What is the biggest mistake I am going to make? : What's missing? If $125k is a bargain, why not make the minimum higher? And if these types of sales represent .1% of sales, should I expect many bidders? : Thanks for everyones help. 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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