Hi I'm buying a house that was listed as a regular sale on Zillow. It showed sold in August 2018, and listing agent said it's a foreclosure, but bank didn't want it listed that way (legal?). So I'm finally getting around to reading all the OLD pages they sent me of photo copied deeds and transfers. Basically, in 1996 a married couple out of "love and affection" for the grantee, gifted the property to her "reserving unto themselves a LIFE ESTATE in the herein real estate". Then they all together refinanced for a $39k. loan. Apparently they foreclosed on this loan recently. My Title conclusion sheet shows Record owner as these 3 people with their grantor, grantee, deed of gift descriptions. Is it reasonable to think the bank owns this property but hasn't become the "Record Owner"? The seller is listed as B- - - Loan Servicing LLC. Also, on my Title Conclusion Sheet is listed a mortgage of $39k.

I’m buying sight unseen (“suck it up Buttercup”??). Why would I see all these OLD documents from 1940-2008 that show survivors and granted and gifts if these people have no more right to the land? Is it probably assumed that the bank owns all if they failed on the mortgage, or is it possible a “survivor” has to be notified? Lastly, the Title Conclusion sheet says Title searches from 1967-2015. Shouldn’t it be searched through 2018-19? If anyone can give insight here, by all means, please tell me what you know or think. I’m supposed to close tomorrow @ noon PST. Of course I’ll talk to Title Co and hope to get clarity, but I’d like to cover my bases if anyone can provide info. Thanks.