Re: No. Don't drink the Kool-Aid (nt)
In Reply to: Re: No. Don't drink the Kool-Aid (nt) posted by Rod Ciferri on August 01, 2011 at 7:26 AM
: : Rod-
: : At what point specifically does the buyer who just bought the property own the property free and clear, even if instantaneous? What document or evidence would show that?
: By operation of law, the grant deed has to come before the deed of trust. Otherwise, the trustor has no security to give.
I suppose that by mere operation of law that the one short instant between the time the old lien is removed and the new deed and deed of trust are recorded, yes, the buyer does own the property free and clear. NOT going to happen that you get it free and clear by this process.
The other "Fly in the ointment" is that MERS is merely a recording and servicing agency.
HAS NOTHING to do with the mess that was created by the banks and wall street in putting together packages of mortgages and securitizing and selling them.
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