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While consulting a title agency is a good start, ultimately, I think a Real Estate attorney is the best option for the OP because of the confusion/ambiguity of this situation. Just my $.02 worth. It won't be cheap, but well worth the investment IMHO.
dontaskwhy, thank for your help. I appreciate your help and advice.
That could be, but I do know our local title agencies routinely help people clear their own titles if it's a matter of paying off old debts or getting releases from the lien-holders. As with everything, the details will make all the difference.
Diana Holbrook, thank you for your continued help and suggestions. I appreciate it.
Where I live a title agency will do a preliminary title search for free. It would show any liens on the property. Liens aren't really that uncommon, basically all it means is that you owe money to somebody and when you sell the property, they will be paid out of escrow so the buyer isn't inheriting anything they shouldn't be.
But here's why its important to clear it up before then. Let's say you find a lien against you that isn't legitimate. You don't want the proceeds of your home sale to be paid to a false lienholder.
We recently saw a strange one- A person wanted to buy a property and the title search uncovered an old PMM against the title with a balance due of about $15k. The property had been bought and sold a few times because the holder of the PMM was deceased and nobody could find an heir to claim it. Each buyer had to accept the risk that an heir could come forth at anytime and renew the lien if they had a legal claim to it. The situation was only made possible because it was once a tax sale and the county could auction it off with this weird potential lien still attached to it. Long story short, the property has never been built on because its ineligible for a mortgage because no bank is going to accept second place as a lien holder, even though the existing lien holder is not known or may not exist.
All of this came out of a free preliminary title report.
terracore, thank you so very much for taking the time to read my post and for providing me such great useful and educational information. The information that you have shared is very helpful. Thanks so much for your help.
Do not let this go on too long. It's very possible you could be accruing interest from the date of judgement. In that case, you would be better off seeking a settlement. We often see where the interest exceeds the original debt, both judgements on property and on credit.
Do not let this go on too long. It's very possible you could be accruing interest from the date of judgement. In that case, you would be better off seeking a settlement. We often see where the interest exceeds the original debt, both judgements on property and on credit.
SmartMoney, thank you. I appreciate your help and advice.
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