Seller Signs DEED over to me?

Question

In a pre foreclosure stage. A seller can not make the payments. The seller signs a purchase agreement and signs the deed over. Do I need to go straight to the county recorders office to register the deed that would be in my name? There only be 1 lien on title and no other liens attached to the property. I would pay the default amount to stop the foreclosure for going any further. I would have a cash buyer who would purchase the property for X amount  of dollars to pay off the remaining mortgage loan and make x amount of profit.

Jay Hinrichs · Answer

there are strict rules in CA in dealing with distressed homeowners IE in foreclosure.. be sure to check out the appropriate statues so you don't violate the law..

Wayne Brooks · Answer

The May, or may not, accept the arrears from you.....they generally have no obligation to do so, particularly if not coming from the borrower.

Brenda V. · Answer

http://homeguides.sfgate.com/can-deed-house-someone-still-loan-name-59806.html

Due-on-Sale Clauses

No law forbids adding someone to your mortgaged home's deed or in signing your home over to others through one. Mortgage lenders understand deeds, though, and use loan due-on-sale clauses to prevent unauthorized property sales or transfers. Mortgage loan due-on-sale clauses allow lenders to accelerate their loans, making them due and payable upon sale or transfer of mortgaged properties. By "deeding" your house to someone else, you've effectively transferred its ownership, allowing your lender to invoke its loan's due-on-sale clause.