Bought Pre-Foreclosure - Posted by Mike

Real Estate Investing Real Estate Law
#1

Posted by Raymond G on July 18, 2007 at 13:25:34:

Hi There –

Please note: Only a licensed attorney in your state can say for sure. But in my state (Oregon) you might still be able to bring a Forcible Entry and Detainer action, also known as a FED action and commonly known as an eviction action. The Quiet Title action deals with the issue of ownership and a FED deals only deals with the issue of possession – technically, these are two separate issues.

In fact, even if you defeat the Quiet Title lawsuit, you may not be entitled to immediate possession of the property, if you did not request that in your response to the lawsuit. (Warning – Although laws are similar, my experience is Oregon-based. Always consult with an attorney in your state.)

FED actions are handled on a fast-track hearing schedule, so much quicker day in court than regular civil trials. However, it is possible that a FED court judge might decide the issue of possession cannot be decided until the quiet title claim is decided. In that case the claim for possession would have to wait until you beat the quiet title claim.

Good Luck.

–Raymond G.
Oregon Attorney

#2

Bought Pre-Foreclosure - Posted by Mike

Posted by Mike on July 16, 2007 at 01:11:59:

Hi, I bought a pre-foreclosure in march 2002 and let the guy stay in the house with monthly rent being deducted from the promissory note. I have a Purchase and Sale Agreement from him, a Notarized Warranty Deed, a Promissory Note to him for the remaining owed. The Deed was recorded. It was not handled through escrow, just a bank notary. I brought him current and took over his payments

I had a new roof put on in 2003.

I’ve since refinanced the property and have been making the payments. I am now ready to renovate the property and he says he never sold the house.

He found a sympathetic pro bono attorney who filed a Quiet Title. He obviously hasn’t told the attorney the whole story. He says I told him I was going to “refinance” him out of foreclosure.

Is there a faster way to gain control of my property than waiting until June of 2008 for a trial? He is simply playing the game and has not made any payments on the prpoerty other than deducting them from the amount I owe him in the Promissory Note.

#3

forclosure - Posted by Edwin

Posted by Edwin on July 19, 2007 at 23:01:28:

If he hasn’t told the attorney the whole story, why don’t you? There’s always the chance the attorney will agree with you and drop the SOB like a hot potato. This story just goes to show you, people will come back and bite you in the ass. You should have evicted that b**astard when you bought the house and sent him down the road. Your being “nice” didn’t pay off, did it? I’m learning the same lessons.