I bought six properties from person who bought from city. I got tile insurance and all but it ended up that there was a reverter on the property - build in 2 years or it goes back to the county. The county is claiming they own.
1. I believe there are two types of reverters. As this one is based on an event, the property wouldn’t just be theirs one day. They would have to file something.
2. There are mortgages on these properties now - same title company did the work. Do mortgages survive reverters?
3. The reversion date was two years ago and I have been sent emails from county that they were not enforcing and found the initial timeline given unreasonable. Can they just decide one day to encore.... it’s a county reverter and I’ve been paying taxes and utilities.
This is the just of it, although there are a couple other things that benefit my case in how the county has gone about this.
Appreciate any insight.