I am asking this question on behalf of an associate. He purchased a foreclosed home unaware that the property had a lien. (He is new to real estate investing, 28 years old, this is his first property he is attempting to flip.) The lien was placed...
The short answer is that unless he can show that the lien was extinguished in the foreclosure, he'll need to pay it either before the sale, or at closing. Although he's not personally liable for the debt, the property is encumbered by the lien.
Unfortunately, this is part of the investigation that should be done before buying property at foreclosure or tax sales. Now that he has purchased the property, the existing liens are what they are.
He may want to contact a title company to look into the issue and tell him what liens are on the property. Alternatively, he can wait until he has a buyer, since he's planning on selling it, and the title company will do this anyway as a part of preparing a title commitment for the buyer.See question
It is agreed that I get the house in my divorce but the VA loan is in my ex's name. My name is also on the paperwork/ mortgage bill. But it's his VA loan. How do I get it in only my name? Will I have to get a whole new loan from the bank?
If you want a loan in your name only, you'll have to refinance the house. The divorce decree will determine who owns the property, but doesn't change your contract with the lender.See question
Gave a veteran in crisis a place to stay for a few days. He had no money no driver's license claimed to have lost job car relationship. After a couple days he borrowed money and started talking about burner phone and drugs. Gave him two days verba...
I don't know what you mean by "establish residency" or "establish tenancy." Neither is relevant to his right to be there. Either he's a guest, meaning he's there by permission only, or he's a tenant, meaning he's there because he has an agreement to do something for you in exchange (such as pay rent, do chores).
If he's a tenant, you need to file an eviction. Make sure you've given three days' written notice, and then file an eviction case in the Justice of the Peace Court where the property is located.
If he's just a guest, he has no legal right to be there now that you've withdrawn your permission. Give him some kind of notice of a deadline after which you'll throw him out, then move his stuff out of the house and change the locks. But be prepared for the uproar this will cause, and be prepared call the cops when it happens, and to show them that he's merely an unwelcome guest.See question
Does the builder have the right and charge whatever he wants with no change order process and miss scope and owner required to pay the invoice
The answer entirely depends on the terms of the contract. It's not unusual for some builders to handle the changes verbally, (even though that's not a good practice), particularly if they're minor. In the case of a major change in the scope of the project, if there's no change order, the question would be whether the parties had agreed to the additional work. This might be shown by emails or text messages, in addition to a formal change order.See question
I executed a mechanic lien contract with a builder to build my home in 2013. I did not pay the entire contract price due to a dispute with the builder. The builder did not file any affidavit of mechanic lien on the county real records. The buil...
Arguably, the contractor must file suit to foreclose the constitutional lien within a year of the last day the contractor could file a lien affidavit, or within one year after termination of the work under the contract, because it's a residential project. However, with a Constitutional lien, no filing is required, and the deadline to file suit on the debt (which is separate from the lien) is four years. I have not seen any cases which determine which limitation period applies in that situation.
You have a slightly different situation, though, because there's a mechanic's lien contract, which may effectively extend the time to foreclose on the contractual lien to four years after the contract was terminated.See question
I am currently being sued for foreclosure from the HOA. My daughter became sick with cancer and since has passed away, plus my husband is suffering from dimensia. Needless to say we became behind on 2014-2016 assessments which were $429/ea. The HO...
I'm sorry for your circumstances, but the short answer is probably not. The court will determine what fees have and have not been paid, and you'll be liable for the unpaid fees, plus the HOA's attorneys fees.
That being said, HOAs rarely really want to foreclose, they just want their assessments and attorneys fees paid, and will usually enter into some kind of payment arrangement. However, as you've seen, delay means more fees, so the sooner you straighten this out with them the better off you'll be.See question
I have come across several properties that are showing as owned by a taxing jurisdiction due to default on property taxes. I am curious if the prior owner still has right of redemption. For example, one property I have found shows that the deed wa...
If the taxing authority owns the property, then they bought it at a public auction. If you buy it from them within the applicable time period, it is subject to the original owner's right of redemption.See question
Being sued by someone need to answer by today , I am going to ire a Atty. but he is out of town
You can actually do a letter to the court, and send a copy to the other side's attorney. Be sure to refer to the case number and court, or no one will know what case you're referring to. Your letter can say generally that you deny all of the allegations in the Plaintiff's Original Petition. Be sure to include your name, address, phone number and email, so that the court and the other lawyer can contact you.
That being said, this is only an emergency bandaid to avoid getting a default judgment against you, and may not be enough to assert all your rights in the suit. You should talk to a lawyer ASAP,See question
Just payed off my mortgage my ex husband and I had refinanced this home jointly in 1999 we divorced in 2003 I was awarded this home I asked the divorce attorney to remove him from the title on the home Will my name be the only one on the title...
Look at your divorce decree - you were probably awarded the house. Often what happens is they have the spouse who did not receive the house sign a Special Warranty Deed to the other spouse. If this did not happen, the divorce decree can probably be filed as evidence of your title. Talk to your divorce attorney about what was or wasn't done.See question
My mom is overseas and she's a foreigner, I'm a citizen here, and I have power of attorney, can I sell the house to myself ? or is it an easier way to get the house to myself ??
The answer depends mostly on who the owner of the house is, and what the power of attorney says. Citizenship status is not a factor.
That being said, title companies really hate to handle sales with a power of attorney, because of the potential for abuse.See question