Posted by JohnBoy on June 08, 2004 at 10:32:23:
Why does it need resolved before the auction? If it goes to auction then it doesn’t matter. Everything gets wiped out.
What were your plans for this property? Were you planning to cure the default or pay off the lender to stop the foreclosure?
Is your state a race state to where the first recorded has priority over the second to be recorded? If so, then I don’t think you have anything to worry about. The deed the other investor recorded wouldn’t be valid. The seller had no right and no interest in the property to deed to someone else after they already deeded their interest away to someone else. Based on the chain of title recorded they had no property to deed to someone else.
I assume the other investors deed was notarized as well? Did you check to see the date his deed was notarized vs the date your deed was notarized? If yours is recorded first and if it was notarized first then you should be OK. What does your attorney say?
If his deed was notarized first then that may possibly create a problem. He may be able to prevail in court with that. But I don’t know for sure. You need to talk to your attorney and find out what the law is in your state pertaining to this matter.