Unclear Title - Posted by Terry

Real Estate Investing
1

Posted by Ron Ohara on February 14, 2001 at 01:31:06:

I have read what you wrote about the 3 lots in Southern California and have some questions:

  1. You purchased 3 lots with another party in 1981.

  2. Disagreements arose in which the courts ordered lot splits. (I have to assume, the original sale was one lot and eventually turned into 3 lots.)

  3. The courts required that you pay sums to your other party in lieu of receiving executed documents in your behalf. (What kind of executed documents were required?)

  4. You presented to your attorney, the required sums of funds as dictated by the courts. Your attorney thusly forwarded the funds to the other parties attorney but never received the executed documents. If this is true, the other party is in violation with a court order and your attorney should be slapped silly for not following the court order. (I would contact your attorney and request that he complete the court order and obtain the necessary documents as stated by the court or obtain a new attorney to get the job done).

Now I will go back to 1981 when you purchased the property with the other party. Were you not one of the original buyers for the property? If so, you should have been placed on the Grant Deed and obtained Title Insurance naming you and insuring you as one of the vested owners. Also, if the other party refused to execute any documents, I have to assume the property has not been legally subdivided into 3 separate lots, but only a survey.

Also, you mentioned that there is currently a lien of record in which both you and the other party are making payments to. Again, I have to assume the Deed of Trust encumbers all of the property. You would have to see if that person is willing to give you a “partial” reconveyance, upon the portion in which you still owe, since the whole lot (your partner’s interest) is not being sold.

If you have a copy of the Court Order which states what actions each party is required to do, you should pull that out and have the attorney act upon it or take it back to court and add in your expended fees for trying to get the person to act.

I could go further, but there are too many questions that are popping in my head regarding what you wrote.

Hope this help you.

Ron Ohara
Capital 500 Funding

2

Unclear Title - Posted by Terry

Posted by Terry on February 12, 2001 at 24:02:37:

Hi! 1981 I bought 3 lots with another party. Disagreements arose and the court ordered the lots split. Surveys were done, I was ordered to pay sums to the other party and he was ordered to execute documents on my behalf. The attorneys paid him the money (through the courts) but never obtained the executed documents from him. We each have possession of 1 1/2 the original 3 lots and each of us pays one half the mortgage to the private note holder. I have rented my 1 1/2 of the property since 1985 and now the tennant wants to buy the lots. The note holder recognizes that I am buying the 1 1/2 of the lots however, I do not show up in the legal records because the other party has always refused to sign over the documents. I have spent considerable sums in attorney fees, none have been able to get him to sign. I hired a firm to draw up new plot maps as required by city/county and had approval, but to date the other party has not signed. Is there anyway that I can sell my half of the property to the tennant? I don’t think the tennant can come up with all of the money to pay off what’s left owning on the note (only 11 or 12 years left of the original 30 year note). I am living in Oregon and the property is in Southern Calif. It is undeveloped commerical property. I am at a loss as how to proceed…any help or suggestions would be most appreciated…Many Thanks Terry