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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Foreclosing on 2ed deed of trust Posted by Rick Harmon on May 08, 2003 at 5:11 PM In Reply to: Foreclosing on 2ed deed of trust posted by G.M McCarty on May 08, 2003 at 5:00 PM G.M. If the borrower (trustor) recorded the lot line adjustments docs after your loan (and obviously the 1st TD) then your 2nd will still encumber whatever property was secured at the time your TD was recorded. Whether he sold the property to 100 people, split it up, died, or performed any other legal transfer, your loan is still secured by the property that you referenced in the legal description of your TD. Another way of saying it, is that any transfer made subsequent to your loan recording will be subject to your loan's security (TD) and it's terms. So, Relax. Tell the owner: "not to park his car with the oil leak in the driveway anymore" (...because it's gonna be your driveway) Best of luck Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : G.M. : If the borrower (trustor) recorded the lot line adjustments docs after your loan (and obviously the 1st TD) then your 2nd will still encumber whatever property was secured at the time your TD was recorded. : Whether he sold the property to 100 people, split it up, died, or performed any other legal transfer, your loan is still secured by the property that you referenced in the legal description of your TD. Another way of saying it, : is that any transfer made subsequent to your loan recording will be subject to your loan's security (TD) and it's terms. : So, Relax. Tell the owner: "not to park his car with the oil leak in the driveway anymore" (...because it's gonna be your driveway) : Best of luck 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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