I bought a manu home at landlord lien auction for $8100 and the bank is now trying to take the property as the previous owner had a mortgage and the park it is in didn't do their due diligence (I'm assuming) and now the bank says that they own the property. They have court paperwork. Who is the legal owner and am I now just out the money?
When you buy at an auction you always have the chance there are pre existing liens on the property. You may not get a statutory warranty deed and title insurance that would protect you from the other claims. If the lender has a lien you will need to pay it off to get a clean title. Take your paperwork to a lawyer or try Avvo Advisor for a quick flat rate assessment of your rights and responsibilities.
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