Updated about 14 years ago on . Most recent reply
CK This Out! Can You Sell DR To Buyer To Clear Title?
There was a foreclosure sale on a DT but it was junior to an earlier DT (157k) that was thought to have been paid off but the Deed of Release on it was not recorded! In effect, the buyer at the sale bought the property subject to the "non-released" earlier DT. Now the buyer has a title problem. A title company could research the situation and may or may not be able to get a release. I'm told that is unlikely since the original bank lender is long ago bankrupt. Now, I've heard that the unrecorded Deed of Release on that DT exists and could be bought. Is it salable? The buyer may have been a person or may have been the lender bank. What price would you put on it?