Posted by dutch on May 31, 2006 at 07:58:12:
maybe. you should be asking your title company. they can answer this better than anyone here, and probably for free.
Dirty title transfer - Posted by Jason Russo
Posted by Jason Russo on May 30, 2006 at 19:53:54:
I know that any title can be transferred, even a dirty title. For example, say I have a client in pre-foreclosure, that has a couple liens on the title that were uncovered with a thorough title search. I would then ask the client to transfer the property to me (with the liens still intact), pay him a fair share for his equity, and then re-instate the mortgage and deal with (pay in full or try to reduce) the liens. Can I get title insurance on the title with the exception of the current liens when it it transferred? Can I pay off the liens then get title insurance after the fact, or does it need to be done when the title is transferred? So, my question is: Can a dirty title be insured with the exception of current liens?
Re: Dirty title transfer - Posted by BTI
Posted by BTI on June 12, 2006 at 10:26:32:
Jason
Yes, it can be done, I’ve taken property subject to several liens and the title company just exempted them on the policy. But follow the suggestion given, and check with the title company you do business with.
Note however if your going to obtain new financing the lender does not want to see senior liens and you will not get the loan without doing something.
BTI