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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Legal title is a prerequisite to obtaining title insurance... Posted by Ward-CA- on February 02, 2004 at 8:18 AM In Reply to: Sheriff's Sale posted by Dave on February 01, 2004 at 11:11 PM : I am researching a property going to sheriff's sale in Ca.I know I will be responsible for all trust deeds senior on the chain of title. What else should I look for that would effect title for me? Also is there a waiting period before I can get title insurance? =================== Dave, A sheriff's sale is a judicial foreclosure process. Thus the homeowner has a 3 month right of redemption (ROR) after the sale. However it could become a 12 month ROR if the sale proceeds weren't enough to pay off the foreclosing creditor. Thus you only receive a certificate of title at a judicial sale which you have to turn in, upon the lapse of the owner's ROR, in return for legal title to the property. Once you have legal title you're free to procure title insurance. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I am researching a property going to sheriff's sale in Ca.I know I will be responsible for all trust deeds senior on the chain of title. What else should I look for that would effect title for me? Also is there a waiting period before I can get title insurance? : =================== : Dave, : A sheriff's sale is a judicial foreclosure process. Thus the homeowner has a 3 month right of redemption (ROR) after the sale. However it could become a 12 month ROR if the sale proceeds weren't enough to pay off the foreclosing creditor. : Thus you only receive a certificate of title at a judicial sale which you have to turn in, upon the lapse of the owner's ROR, in return for legal title to the property. : Once you have legal title you're free to procure title insurance. 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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