Grandpa Ward and high school grad, Chris.

InnoVest Resource Management's

Foreclosure Forum

Home

Discussion Board

"Hands-On" Training

Title Holding Trust

Speaking Schedule

Store

Foreclosure Codes

50 State Resource Data

Foreclosure Glossary

Foreclosure Statistics

60+ Yrs Interest Rates

Fillable Forms

Archived Articles

Dingbat Retirement Plan

Links

Contact / Map

Home

 

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ]

Check it out now, before opening any escrow.

Posted by Ward-CA- on August 01, 2003 at 6:33 AM

In Reply to: is it going to be difficult to insure it? posted by gcastro on July 31, 2003 at 9:49 PM

: Ward, I bought a proprerty subject to, and the hall of records indicated that there were only two deeds of trust against it when I bought it. After a week that I bought the property and recorded the grant deed, the lender of the second deed of trust gave me a call, and informed me that there was a third deed of trust, but that they made a mistake and never recorded it in the hall of records. The Seller never mentioned about this third deed of trust to me. I know that I am not liable to pay for the third deed of trust, since she didn't mentioned it to me before I bought it, and since it was not recorded in the hall at the time that I recorded my deed, however the lender has gone ahead and recorded that 3rd deed of trust and I am worried that when I sell the property, the title company will not be willing to insure the title to my buyer, since they dont know wether I knew about it, or not when I bought it. What do you think, is it going to be hard to insure it?

=?=?=?=?=?=?=?=?=?=?=

Gonzalo,

Like you, I think you?re OK. And a title company would probably agree too. BUT the difference with a title company is they don?t want a possible legal contest hanging over their head.

So check with that title officer (that I?ve suggested countless times) you know on a first name basis and ask him. Otherwise you might have to bring a Quiet Title Action against the beneficiary of that 3rd to get it removed from the title of your property.

Hope this helps.


Follow Ups:


Post a Followup:

Name    : 
E-Mail  : 
Subject : 
Comments: 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

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.

Copyright © 1997-2003, 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

[an error occurred while processing this directive]