Skokie Foreclosure Attorney.
The purpose of a partition suit is to divide property of which that the parties on title cannot agree on the division. The only scenario I can think of where a partition might be denied is if there is some restriction in the Title, Deed or the conveyance (e.g.Will or Trust) that might prevent the partition suit. The best way to determine your rights is to hire real estate litigation counsel and have them pull title and look at the conveyance documents and advise a course of action. Good...
1 lawyer agreed with this answer
Your question is vague, and is therefore hard to answer in this forum. You should locate an attorney who understands both real estate and probate law. That attorney should be able to check the title to the property to determine what vehicle was used to put title into your sister's name and whether it was proper in light of any Will your mother left instructing on how her property should be divided. This answer does not constitute legal advice and does not and is not intended to create an...
2 people marked this answer as helpful
Unless you have a written agreement to the contrary, your agent had an obligation to protect your interest in the property and not setting the alarm was a breach of that obligation. See if she is bonded and insured and if so, make a claim against her insurance. You may also want to check your own insurance and see if you are covered and ask for her to cover your deductible. This answer does not constitute legal advice and does not and is not intended to create an attorney-client...
1 lawyer agreed with this answer
Whether your husband's creditor can place a lien on your house depends on whether the transfer of title to your name was done with the intent of avoiding payment to that creditor or whether you gave value (e.g. money) for the transfer. A transfer of property in anticipation of a claim of a creditor is called a "fraudulent conveyance". Each state has its own statute of limitations for how far back you can look to determine whether a transfer was made as a fraudulent conveyance. If you can...
2 people marked this answer as helpful
A chapter 7 Debtor has the right to assume or reject an "executory" contract. An executory contract is one where there remains performance on both sides. A land contract is a classic example of an executory contract. If there is equity in the property, the Trustee has the right to make the decision as to whether to assume or reject the contract. If there is no equity, the Debtor has the ability to make that decision. You should hire a bankruptcy attorney to determine whether your...
1 person marked this answer as helpful
Look at the mortgage. Most likely it has language that says that heirs and successors are not relieved of the responsibility of paying the mortgage. As long as this language is there and you continue paying the mortgage, you should have the right to remain in the home without the threat of foreclosure. This answer does not constitute legal advice and does not and is not intended to create an attorney-client relationship. The law may vary depending on the state in which you reside. It is...
1 person marked this answer as helpful
Your best bet is to call a title company in your area and confirm the manner in which they would clear title to allow you to SELL the property in the event you chose to do so. They would probably need a copy of her marriage certificate. It will probably be sufficient for her to type in as Grantor "Mrs. A., now known as Mrs. B" or "Mrs. B. formerly known as Mrs. A" and to sign the document in the same way. This answer does not constitute legal advice and does not and is not intended to...
1 person marked this answer as helpful
Essentially, there is nothing you can do. The "contract" for the approval of the short sale is between the sellers and their lenders. If the lender rescinds or conditions their approval, the only party that could sue for breach of contract, is the Seller. You as a buyer have no rights as to the Sellers' lender. If there was a contingency in your contract for approval of the short sale, and the short sale was not approved, or rescinded, then the contingency was not met and the contract is...
1 person marked this answer as helpful
You should look at your loan documentation. Did you agree that you would occupy the property within 60 days of the purchase? You may be committing a fraud on your own lender if you did not disclose to your lender that this was going to be investment property. The interest rate is different for owner-occupied property than it is for investment property. This answer does not constitute legal advice and does not and is not intended to create an attorney-client relationship. The law may vary...
1 person marked this answer as helpful
The purpose of the language in the BofA approval letter is to assure that the property is not going back to the Seller in circumvention of the "arms-length" transaction that is required of the sale. You should consider the language barring the transfer as a counteroffer to the contract that provides for the ability of the buyer to transfer the property. My opinion is that it would be violation of the contract and approval letter to transfer by a change in the beneficial interest in the...
1 person marked this answer as helpful
