unreleased deed of trust - Posted by Elliott Webb

Posted by Maria Palomo on May 26, 2006 at 14:38:10:

Loan amount $87,000 DOT dated 12/21/05 Lender Conseco Finance Servicing Corp.
Borrower names Willie Maning Jr and Tjuanna Manning
property address 429 Earl Street, Alexandria, VA 22314

Instrument #020042932

unreleased deed of trust - Posted by Elliott Webb

Posted by Elliott Webb on April 30, 2006 at 05:56:06:

If a title search uncovers an unreleased deed of trust originating a long time ago and the mortgage company no longer exists, and the heirs can find no payment records or anything else related to the loan, how can it be cleared from the title? All indications are that the note was paid off in 1996 and never recorded. Can the house be sold with this defect?

Ask the title co. - Posted by John Merchant

Posted by John Merchant on April 30, 2006 at 11:03:30:

Call or go and have a visit with a title co. officer and see what they’d require here…maybe they’d accept an affidavit from the heirs that it’s been years since they heard anything from any banks, they cannot locate any company or person who claims to be an assignee of that bank’s lien position, etc.

The title co. might be willing to gamble and issue a title policy on it, meaning that any new buyer could safely take a deed and know that the TC would back him up if a lien holder ever surfaced.