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Re: Rescinding a Trustee Sale

Posted by Rick Harmon on August 05, 2011 at 10:08 AM

In Reply to: Re: Rescinding a Trustee Sale posted by bukzin on August 05, 2011 at 6:10 AM

In CA, no time limit defined by code. Part of the risks and hassles of buying at T-sales.

I've been on the other side of this, too. As a lender, once the discover of an error or other issue with title has been determined and the foreclosing lender, thru their trustee, has determined that they will not be passing the "rights, benefits and interests" as to that represented on the security device (TD), then the trustee may unilaterally rescind the TDUS.

Remember, as a buyer, you are not guaranteed or assured anything, other than the fact that you bid on a sale. Read the Trustees Deed Upon Sale closely.

I know this doesn't make you feel any better, but it's how it works. Sometimes sales are later discovered to be "blown" sales, No one likes it on the other side, either. Perhaps the borrower/trustor appreciates the extra time.

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