Geez Helen, I don't know. What do you think?

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Lien Avoidance

Posted by Sean, N.C. on March 19, 2004 at 10:30 PM

In Reply to: FITE Question posted by steve on March 19, 2004 at 12:17 AM

:In another property I am interested in buying, it's hard to follow all the name changes when going back in time. A "Kathleen B Smith" might be named Kathie Smith, Kathleen Smith, Kathleen L Smith (wrong mid initials), Kathie L Jackson (post marriage), etc etc. I am afraid to make a mistake and miss some liens that might be under an assortment of these names. Is there a safe easy way to make sure I have everything?

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As Ward has said before, "It's one of the risks we take in this risky business."

If a title is too cloudy, just move on. There will be more opportunities. When I know there are liens against "Kathie Smith" and my property is owned by "Kathy Smith" I would not gamble.

Fortunately, most foreclosing trust deeds are purchase-money mortgages. (I.e. the 1st position lender, with the most to lose). They wouldn't have lent the money if there are any liens (that they could find) when the loan was closed. And most liens are not renewed after their 10 years are up.

So, it's a manageable and fairly unlikely risk for the trustee sale buyer. But much dicer, for the subject-to buyers....


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