All Forum Posts by: Account Closed

@Edwin E.  That is great advice on mortgages that have not been satisfied.  Thanks.

Perfect.  Mine is not.  What about limiting searches to current on property that has changed ownership via warranty deed?

Thanks for your response.

A followup for all those out there dong their own searches would be, how many of you only do a current owner search when the previous current owner received the property via a warranty deed.

Thanks again.

Does anyone know of any concerns to look for if a spouse has transferred interest to a spouse via a quitclaim deed?  I saw a video that warned of this transaction.  It suggest the grantor could still have interest.  Almost like they gave equitable title, but retained legal title.  I would just like to know if there is any red flags to look for in this type of transfer.  I would like to assume if they did still have an interest the law firm would put them on notice of a foreclosure proceeding and said interest would be lost by way of the foreclosure.

Thanks.

Sorry.  Does anyone know of.

Does anyone one of an alias repository?  I am doing tile  searches and like to have one to reference.  

Thanks.

@Steve Vaughan Thanks.

A lot of time when I am doing these title searches, I see where a family member has conveyed title to a loved one, like mom to son.  Then a year or two into it the son gets a mortgage against the property.  I guess it would be a bad idea to assume the bank gave the mortgage to the son, with no prior leans on the property.  Thus making the sons mortgage a second position mortgage and one not worth too much at a sheriff sale.  In other words I need to go back to the mom and ensure all liens had been satisfied since she had taken ownership.  Yes?

I guess the follow up question would be, do lawyer write up warranty deeds, even when they are aware of a lien or issue with the chain of title.  Would that be a breach of their fiduciary duties?

I am doing some title searches for up and coming Pa sheriff sales.  I am only doing current owner searches but have a question.  So I read the following:

When a seller conveys land to you by way of a warranty deed, he certifies or warrants that there are no existing liens against the property.

So is it safe to say that  when I see the transfer of ownership via the warranty deed and at some later date a mortgage/deed of trust, that I can assume all previous liens prior to the mortgage had been satisfied, as well as the mortgagee has free and clear title?

This is assuming the abstract company did there job correctly for the bank, and that the attorney who prepared the warranty deed did their job correctly too.

Am I missing something, baring annoying, easily remedy clouds.

@Merlina Rodas  I made 25k on my first flip and it took me 1 month of work and 5 months to actually close.