All Forum Posts by: Tom Gimer

There is a company called reQuire that offers title curative services such as this when all else fails in the search for a lienholder payoff and/or a release. Even if they cannot obtain that information, they provide a packet of documents that can then be used in support of a quiet title action.

And now for the bad news... the cost is $500 (unless they are unsuccessful and instead must provide the above-referenced supporting documentation, in which case the cost is $100-150).

In my experience the party who prepares the first draft of the contract ends up with the better bargain, so as the buyer I would want to be submitting my contract form on a deal involving creative financing.

Fairly easy to create a good template skeleton (perhaps with the assistance of counsel) and then have alternate provisions ready for a. purchase price / financing and b. contingencies that you can swap in or out (or even include as checkboxes) depending on the deal. 

OP needs to research the doctrine of "lien marshalling" in OH.

Junior lien holder foreclosing in the context of an over-secured senior creditor. 

Good luck with that!

Lien priority is based upon local law and can also be modified by contract and in equity. Doing your own title search without the experience of a title abstractor/ examiner and reviewing the foreclosure case file… man I wouldn’t try that.

Unless the government agency/lender agrees to the transfer and to subordinate, that lien would be in first position after a sale of the subject property.

Further, most obligations such as the one secured by that DoT become due immediately upon sale or refinance. I would be studying those docs carefully before believing anything the seller is saying.

If the intention was for the now-deceased prior owner to convey both lots to the last seller, this can be easily fixed by the execution and recording of a confirmatory deed from the estate of the decedent (and then another from the last seller, unless a 3-party deed could be used). If there is/was no estate open, that is fairly easy to do as well.

This sounds messy but it's pretty simple to resolve, even with the prior owner being dead.

Quote from @Mike Schorah:

@Chris Seveney @David M. @Wayne Brooks @Jay Hinrichs

But if I back out of the original contract, can the buyer sue?

Sue who? And for what? Certainly not for the property, and any other “damages” good luck with that. 

The buyer/assignee has a contract only with the assignor and the original contract is apparently void, which makes the assignment void. Everybody needs to get their deposits back and find the next deal… and hopefully it won’t be a waste of time like this one. 

The answer to this question is 100% dependent upon the state. In many jurisdictions a property not the subject of a specific bequest is sold (yes, deeded out to the buyer) during administration of the estate, not at the end. Sales proceeds are held by the PR/executor/administrator to satisfy payment of approved creditor claims and expenses.

Can a homeowner can be forced to join an HOA created AFTER they purchased the property? I would think not, anywhere. But that doesn't sounds like the issue. More like owner voluntarily joined new HOA. Then after the other owners teamed up to ban STRs now wants to challenge the legality of that action. Much different scenario.

Did you join the new HOA @Robert Pettigrew

At least the numbers are not insurmountable in flipping the community on this issue in the future.

Quote from @Latoya Pryor:

Hello All,

I have a situation.  Spoke with a son who mom passed away intestate.  He has one sibling.  He is interested in selling the property but unsure what steps need to be taken.  He believes there was still a mortgage on the house but the mortgage company has closed down.  Can someone help me in what steps he can take to get the home in his name?  Does it even pass down to him and his sister?  

If mom had no spouse, the living children (in the simplest scenario -- no dead children who have descendants) own the property by operation of law. How to best make that "official" depends upon their plans. If they both want to sell, they could do so through probate via a deed out from the administrator directly to the buyer with a division of sales proceeds less creditor claims, etc. at a later date. If they just want to take title that could be either through probate or the filing of an heirship affidavit (similar effect to the recording of a will) and thereafter ownership of the property transfers on the books.