 Quiet Title Action (by Ken [NY]) Oct 22, 2020 7:29 PM
 Quiet Title Action (by NE [PA]) Oct 22, 2020 7:32 PM
Quiet Title Action (by MikeA [TX]) Oct 22, 2020 9:31 PM
Quiet Title Action (by Nicole [PA]) Oct 22, 2020 11:22 PM
Quiet Title Action (by Ken [NY]) Oct 22, 2020 11:40 PM
Quiet Title Action (by razorback_tim [AR]) Oct 23, 2020 7:43 AM
Quiet Title Action (by S i d [MO]) Oct 23, 2020 2:07 PM
Quiet Title Action (by Mike45 [NV]) Oct 23, 2020 2:45 PM
Quiet Title Action (by 6x6 [TN]) Oct 23, 2020 2:51 PM
Quiet Title Action (by Ken [NY]) Oct 23, 2020 3:05 PM
Quiet Title Action (by Mike45 [NV]) Oct 23, 2020 6:09 PM
Quiet Title Action (by Ken [NY]) Oct 23, 2020 6:23 PM
Quiet Title Action (by 6x6 [TN]) Oct 23, 2020 6:27 PM
Quiet Title Action (by Mike45 [NV]) Oct 23, 2020 8:19 PM
Quiet Title Action (by Ken [NY]) Oct 23, 2020 11:11 PM
Quiet Title Action (by Ray-N-Pa [PA]) Oct 25, 2020 11:17 AM
Quiet Title Action (by Ken [NY]) Posted on: Oct 22, 2020 7:29 PM
Message:
I am buying a house,I found out about it because the original sale fell through because a mortgage coulnt be paid off,there is a mortgage from a govt agency who gave an old man money to do repairs to the house.Now he is in a nursing home and when they tried to get an amount due the attorneys found out the govt agency is out of business and could not take his money for payoff nor could they provide a satisfaction of mortgage.I am getting the house for $5000 to pay realtors,back taxes,filing fees,attorney etc and this mortgage attached which is due about $13000.Assuming i am told it cant be paid off i want my attorney to do a quiet title action.Has anyone does this? any other suggestions? --72.231.xxx.xxx |
Quiet Title Action (by NE [PA]) Posted on: Oct 22, 2020 7:32 PM
Message:
My flip house partner has done a few. He's working on one now. Email me. --70.44.xxx.xx |
Quiet Title Action (by MikeA [TX]) Posted on: Oct 22, 2020 9:31 PM
Message:
I've had some success in dealing with Government bureaucracy by engaging my congressman's office. They are pretty good at working through the Government system to get issues resolved. They've helped me deal with HUD and VA on a couple of properties and had my issue resolved in less than a month. --64.130.xx.xxx |
Quiet Title Action (by Nicole [PA]) Posted on: Oct 22, 2020 11:22 PM
Message:
very strange that the original agency didn't transfer the mortgage to another agency or perhaps the (not sure of the wording here) "bigger" agency - such as Dept of Conservation transferring it to the USDA --72.70.xxx.xx |
Quiet Title Action (by Ken [NY]) Posted on: Oct 22, 2020 11:40 PM
Message:
Nicole,my attorney said the attorney general would have required the agency to give the mortgage to another similar type agency before going out of business but maybe it just simply got missed.I told my attorney to close it and we will figure it out later,i dont want to solve the problem before i own it and have the seller decide to sell it to the original buyer and leave me with nothing.Even if i end up paying off the mortgage it is still a good deal and a pretty quick rehab. --72.231.xxx.xxx |
Quiet Title Action (by razorback_tim [AR]) Posted on: Oct 23, 2020 7:43 AM
Message:
I have done a few on tax sale properties. Use an attorney who does these regularly as part of their practice. They can drag out awhile. --70.178.x.xx |
Quiet Title Action (by S i d [MO]) Posted on: Oct 23, 2020 2:07 PM
Message:
I've done 3 on tax sale properties. If no one shows up to contest it, it doesn't cost much. My average ran about $2,000 to do a title search, mail and publish official notices as required by law. I hired an attorney to do it. Took almost 3 months start to finish to get thru all the time lines. --107.216.xxx.xxx |
Quiet Title Action (by Mike45 [NV]) Posted on: Oct 23, 2020 2:45 PM
Message:
I have done quiet title actions in CA and NV. But my question is: why you want to do anything?
Are mortgage payments being made? If not, fine. Is there any threat of foreclosure? If not, I would ignore the mortgage completely. Maybe in ten years after no payments have been made in the interim, then file a quiet title (or give it another ten years). What harm is there in keeping the mortgage there?
I am asking this because one of my properties supposedly has a clouded title. The title company does not recognize me as the owner, but says that the couple I bought from about 20 years ago is the owner and lists me as an unknown lien holder. The back story is that when I bought the property, it was done with a quit claim deed and no title insurance. The title company does not recognize the validity of the transfer, and will not accept it unless the old owners come in and sign paperwork at the title company. I say "$%^% that"; the title company does not have the legal standing to deny/dispute my title!
In the meantime, I continue to pay taxes and insurance, and I continue to collect rent. I might have to deal with the title "issue" if and when I sell the property, but there is no reason to deal with it now.
Ken, aren't you in the same boat? Why deal with this defunct mortgage at all?
--71.222.xx.xxx |
Quiet Title Action (by 6x6 [TN]) Posted on: Oct 23, 2020 2:51 PM
Message:
Thank you for sharing Ken, that is very interesting.
That is a great deal on a house, I would think especially in NY.
I believe that if I were the heirs to that property, I would rent it out and never have to pay the mortgage off. IDK.
What happens if it turns out that you can't get it cleared up in any way, then do you still own the property?
--73.120.xx.xxx |
Quiet Title Action (by Ken [NY]) Posted on: Oct 23, 2020 3:05 PM
Message:
MIKE45,I want to sell it asap,that is why i want to do a quiet title action,i prefer flips over rentals any day.If i cant get rid of the mortgage i will keep it and rent no problem but would prefer to sell it.
6x6 the current owner is in a nursing home and he will be signing a deed so ownership will not be in question,i will own it.The mortgage will create a cloud on the title and make it so i cant sell and get someone a title policy.Deed and mortgage are 2 different things,a house can be sold and transferred to a new owner without paying off a mortgage or other liens,most people dont understand this because in order to get a mortgage and a title policy required by the lender everything has to be paid off at closing,realtors try to tell me regularly that everything has to be paid off but not true,only necessary when they are selling a plain vanilla deal which is what most realtors deal with --72.231.xxx.xxx |
Quiet Title Action (by Mike45 [NV]) Posted on: Oct 23, 2020 6:09 PM
Message:
Ken, that makes sense. I am not a flipper; I like to hold forever, which is why inactive title issues don't bother me. Possession is my concern!
I have never done a quiet title in NY, but it will probably not be a fast process. You will need a NY atty to tell you how you will need to serve the defunct govt agency. I would guess that you might need to serve the NY State atty general as well.
I have no idea if they would default and allow you to proceed to a default judgment. That would be your best and fastest result.
Good luck with it.
--71.222.xx.xxx |
Quiet Title Action (by Ken [NY]) Posted on: Oct 23, 2020 6:23 PM
Message:
Mike,assuming the govt agency is out of business how could they do anything but default for the hearing? even if someone shows up to complain i would think being out of business they wouldnt have any legal ability to put up a complaint? --72.231.xxx.xxx |
Quiet Title Action (by 6x6 [TN]) Posted on: Oct 23, 2020 6:27 PM
Message:
Thank you Ken, I didn't really think of it like that. --73.120.xx.xxx |
Quiet Title Action (by Mike45 [NV]) Posted on: Oct 23, 2020 8:19 PM
Message:
Ken, we are talking about a governmental agency. Even if they have no offices, no employees, they are still a governmental agency and the State AG or the City/County Counsel can still appear on their behalf. It is not like a suspended corporation that is not legally authorized to defend a lawsuit whilst suspended!
Just like you might have to serve the Governor or the State AG or a county/city clerk to serve the mortgage holder!
--71.222.xx.xxx |
Quiet Title Action (by Ken [NY]) Posted on: Oct 23, 2020 11:11 PM
Message:
Mike,ok thanks they were not able to pay off the mortgage with a previous buyer,regardless either way it is a good deal for me since the mortgage is only $13000 --72.231.xxx.xxx |
Quiet Title Action (by Ray-N-Pa [PA]) Posted on: Oct 25, 2020 11:17 AM
Message:
When you sell it, can't you sell with quit claim deed and a notarized statement that you acknowledge that a unpaid mortgage exist from back in the day - that the buyer is taking the place as is where is.
I had to sell a place where I couldn't find the next of kin on someone who passed - so the note never got paid. I took about a $4,000 hit on an unpaid second of about $9,000. The attorneys were quoting me about $5,000 in fees and still couldn't tell me if the quiet title action would be successful.
My thought, let sleeping dogs lay, but have the money at the ready if this pops up during your ownership. --24.101.xxx.xx |
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