Posted by Dimpil on October 17, 2003 at 18:42:07:
Don’t have an entire answer to your questions but,
- Survery registered with county for tax purposes (may take a few days to a few months depending on how big and back up your local county department is)
Land the lender had was the one parcle, parcle ID and tax ID, now it is less then the value because you parcled it all out, 4 new parcle ID’s and tax ID’s. So I would think they would want you to refiance because you rendered the deed they had a line against invalid.
Now developers will take a lien out against the entire land they are developing and as each house is complete they pay off a portion of the loan and the lenderd releases a section of the land for, deed/title to new home owner.
I have no clue what it takes to get this done as I’m not a developer but I have been party to small devloperes doing it this way as I had to call the bank and get a lien release a few times. I think this is how the big developers do it but since that is generally handle by their attorney and the closing attonrey gets a deed I don’t get to see all that with the big developers in my area.