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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Recovering title in lieu of recovering loan... Posted by Ward-CA- on January 25, 2004 at 7:07 AM In Reply to: getting my property back posted by jamie on January 21, 2004 at 11:28 AM : If I sold my property to a family member and they havent paid me a dime in the last 6 monthes how can I get my property back with out have to risk selling through the courst or trustee sale ? ========= Jamie, I’m guessing the “risk” you speak of is getting paid off at the risk of losing your claim to the title of the property in the process. If you avoid the judicial approach of going to court and the non-judicial approach of processing a foreclosure, then the only remedy left is to negotiate with the family member directly. Seems to me the tool to use would be offering to accept from the defaulting owner a deed to the property, in lieu of doing a foreclosure. The danger in taking a deed-in-lieu is that there might be additional liens attached to the title of the property that you’d have to contend with. So check out the title record of the property in advance to avoid any surprises of additional liens. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : If I sold my property to a family member and they havent paid me a dime in the last 6 monthes how can I get my property back with out have to risk selling through the courst or trustee sale ? : ========= : Jamie, : I’m guessing the “risk” you speak of is getting paid off at the risk of losing your claim to the title of the property in the process. : If you avoid the judicial approach of going to court and the non-judicial approach of processing a foreclosure, then the only remedy left is to negotiate with the family member directly. : Seems to me the tool to use would be offering to accept from the defaulting owner a deed to the property, in lieu of doing a foreclosure. The danger in taking a deed-in-lieu is that there might be additional liens attached to the title of the property that you’d have to contend with. So check out the title record of the property in advance to avoid any surprises of additional liens. : Hope this helps. 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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