Before any title transfer can occur, a search is performed on the title to see if there is any lean or claims on it. All outstanding fines and stuff are supposed to be paid off before money is transferred from lawyer to seller.
your title insurance should take care of that. Though I question your county's competency when they don't even have current owner name.
They also do search on the buyer and seller. And if your name is deemed similar enough so some unsavoury character you have to sign afrodavit to say you are not that person.
buddy of mine had to sign that stuff to prove he was not a "dead person" who had the same name
Actually Caveman had no clue!! The people you worked with to get all the paperwork signed are the ones on the hook! You did nothing wrong!!
Yeah, I know. Probably would have been best to leave that thought untyped. Cuz, you know, all you Asians are in cahoots.
Doesn't really have anything to do with them being Asian, it was just an observation. I've heard of stuff like that happening before.. Sell a place to your brothers first cousin in an attempt to thwart/prolong the foreclosure process...
Actually much worse. It's like buying a used car that you find later was stolen (if in fact the title is a problem).Shit, it's like buying a used car that you find later was in a wreck and wasn't declared in the title work.
Just skimmed through the thread, most posts seem to be what I expected-firm opinions based upon total conjecture.
OP-do you have OWNER's title insurance? That protects your interests. Your lender almost certainly required you to pay for lender's coverage-that protects the loan but not you.
Were you represented by counsel in the closing? Your first step should be to call him or her IMMEDIATELY. If you weren't represented then, you should hire competent counsel NOW.
Everything else is a waste of precious time and puts your investment at further risk.
Did you not have a RE lawyer perform a title search for you before closing?
Any properties i've bought it was on me to get a lawyer to to do the title search. Different states different rules?no clue huh.....
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yeah it may sound unpleasant, but it's a stereotype steeped in truth, on the west coast especially.
Tons and tons of shady dealings when it comes to Asian landlords that I have had living in CA, compared to others. I just avoid them altogether because it isn't worth the trouble.
I can see two outcomes. Either the title was clean when the property was transferred to you, in which case whoever is trying to force auction needs to be put in their place, or the title was not clean, in which case the title insurance is going to get messy (if the auction stems from two owners back then the title insurance from two sales ago is liable.)
This sounds interesting. I bid $1, but can go as high as $1.50.
Let me know when I win.
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