Posted by David Alexander on November 20, 2000 at 24:22:47:
Greg,
I would think that the title company would give you a shout when they went to insure the title. If so I’m sure they would draw up the paperwork for you to release it. Or maybe just draft a Release of Affitdavit of some sort.
David Alexander
Affidavit of Memorandum - Posted by Gregory Bell
Posted by Gregory Bell on November 20, 2000 at 24:00:41:
A year ago I was considering purchasing a 4-plex but there were extensive title problems that needed to be worked out. Needless to say I decided not to purchase it.
This brings me to my question: I placed an Affidavit of Memorandum on the property and then after we went several weeks beyond the closing date I decided to cancel the contract and move on to the next deal. Unfortunately I did not remove the Affidavit of Memorandum from the county deed records. Now the seller is getting ready to sell and they’ve discovered the Affidavit of Memorandum, which I thought would have expired with the contract.
Does anyone have a form that I could use to remove this memorandum from the county deed records? If so, please e-mail it to me so I can cancel it from the county records. If you want to you can paste it to this site and I’ll format it to a word processing program and get it notarized and filed promptly so the seller can get on with his sale. I’ve never had to back out of a contract before so this is a new one for me. Any and all help would be greatly appreciated!!
PS. For those who don’t know what an Affidavit of Memorandum is, it’s a form that you can file with the county deed records when you have a property under contract. This stops unscrupulous sellers from shopping your contract and selling it out from under you. I use it as insurance on just about every good deal I come across, that is, unless I know the seller personally.
Thanks,
Greg
Re: Affidavit of Memorandum - Posted by TRandle
Posted by TRandle on November 20, 2000 at 07:20:52:
Greg,
In Texas, the title company will provide you the proper paperwork to remove the cloud just as David and Jim stated. I would think you can call the closing office directly and ask what they need to get it removed.
Re: Affidavit of Memorandum - Posted by JPiper
Posted by JPiper on November 20, 2000 at 05:32:53:
Call the title company and ask them what they would like to record to remove the cloud. Chances are it is a quit claim deed.
JPiper