Property in Foreclosure and Attachments - Posted by Vlad

Posted by Vlad on September 25, 2003 at 20:30:34:


thank you very much for your reply.

The owner pretty much denies that there is anything going on with the property. He just sticks to “if interested, buy for this price (unreasonably high)” and insist that the foreclosure will not happen.

I didn’t think about asking an attorney first, because did not think I’ll be able to do anything with this property. I, perhaps mistakenly, thought that there might be one-fits-all answer to my question :slight_smile: Sort of a general one. Maybe I should post it on a legal forum.

Anyway, thank again for taking the time,

Property in Foreclosure and Attachments - Posted by Vlad

Posted by Vlad on September 25, 2003 at 12:51:04:

Sorry I have to repeat my question; original one was passed by…

I was checking the title of a property that is to be foreclosed and came upon… well, it is so messy that I don’t think I have enough knowledge to pursue it; from IRS lien, to tax liens, to… attachments.

But here’s what I’d like to find out: this property has two attachments against it. One is the result of the judgment against owner’s relatives (they have several collective interests); he is not mentioned in that case. The amount is close to a million and therefore they attached all the properties (they could find, I guess) that belong to this family. However, he is the sole owner of this very property and, again, is not a defendant. Why is this property included?

The second judgment is against the trust (of a different property), where he’s a trustee, and therefore judgment is attached to all the properties he may own, including this one.

My questions are:

  1. How can this property be sold? (He’s trying to sell it.) How these attachments encumber it? Can it be sold at a foreclosure sale? Can a lender repossess it?
  2. How is that different if the property were the only interest attached or in a group of many?

Thank you in advance,
Vlad (MA)

Re: Property in Foreclosure and Attachments - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on September 25, 2003 at 15:43:37:


What does the property owner have to say about these issues?

Have you talked to the creditors or the attorneys for the creditors and asked them how they can justify their action?

Have you considered talking to an attorney in your area? This really sounds more like a legal question, not an investing one.

Good InvestingRon Starr*