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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Vesting of Trustee's Deed in CA... Posted by Ward-CA- on February 03, 2004 at 8:06 AM In Reply to: Trustee Taking its Time !!! posted by JK on February 02, 2004 at 4:50 PM : Hello : We bid on a house in CA and were the successful bid. : We are fast approaching the 15days from the sale date. The trustee is slow as molasis getting us the deed. : 1) What happens if a lien is filed or the trustor delares banruptcy if the deed is over 15 days? : 2) Would we have recourse against the trustee?? : 3) Should we record the deed as soon as we get it regardless of what may have occurred since the sale? : 4) Any suggestions in how to speed things up for this or future cases? : Thank you for your help. =================== Jk, #1. If your Trustee's Deed is recorded within 15 business days of the trustee's sale your title to the property is legally determined to have occured as of 8:00 AM of the day of the sale. However, if your Trustee's Deed is recorded later than the 15 day deadline then your title is said to have vested at the time it was recorded. #2. Yes, you can have recourse against a tardy trustee if you can prove that you suffered a loss as a consequence of their daliance in getting you your trustee's deed in time. #3. Yes, I'd record the Trustee's Deed the same day I recieved it. In fact, I'd go to the trustee's office around the 12th or 13th day and wait until they gave it to me that day. #4. Here's how most pro's expedite the mailing of the trustee's to them. First ask the auctioneer who he is going to report the sale results to in the trustee's company. Ask for that person's phone number, explaining that you need a contact number in case they are late in getting you your deed. Then call that person up once you return to your office and tell him/her that you want to authorize them to expedite the mailing of your trustee's deed to you by authorizing them take an extra few bucks out of your surplus funds coming to you and use priority mail or express mail. after the trustee's sale . Hope this helps. Follow Ups: Tried that BUT... JK 10:39 AM, 02/03/04 (3) Re: Tried that BUT... SeanW 6:48 PM, 02/03/04 (2) This isnt Kansas ... or SC JK 9:35 PM, 02/03/04 (1) Real world lessons - Course #301 Rick Harmon 10:16 PM, 02/03/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Hello : : We bid on a house in CA and were the successful bid. : : We are fast approaching the 15days from the sale date. The trustee is slow as molasis getting us the deed. : : 1) What happens if a lien is filed or the trustor delares banruptcy if the deed is over 15 days? : : 2) Would we have recourse against the trustee?? : : 3) Should we record the deed as soon as we get it regardless of what may have occurred since the sale? : : 4) Any suggestions in how to speed things up for this or future cases? : : Thank you for your help. : =================== : Jk, : #1. If your Trustee's Deed is recorded within 15 business days of the trustee's sale your title to the property is legally determined to have occured as of 8:00 AM of the day of the sale. : However, if your Trustee's Deed is recorded later than the 15 day deadline then your title is said to have vested at the time it was recorded. : #2. Yes, you can have recourse against a tardy trustee if you can prove that you suffered a loss as a consequence of their daliance in getting you your trustee's deed in time. : #3. Yes, I'd record the Trustee's Deed the same day I recieved it. In fact, I'd go to the trustee's office around the 12th or 13th day and wait until they gave it to me that day. : #4. Here's how most pro's expedite the mailing of the trustee's to them. First ask the auctioneer who he is going to report the sale results to in the trustee's company. Ask for that person's phone number, explaining that you need a contact number in case they are late in getting you your deed. Then call that person up once you return to your office and tell him/her that you want to authorize them to expedite the mailing of your trustee's deed to you by authorizing them take an extra few bucks out of your surplus funds coming to you and use priority mail or express mail. after the trustee's sale . : 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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