Unrecorded deed of trust brainstorm

[Derek W.]

I have a lead from an attorney who wants to sell clients property to pay for Att fees. Property has an unrecorded deed of trust  (seller carry) according to seller. Title shows free and clear. Nothing was recorded to secure seller carry. What are some possible plays in this situation. Seller wants to sell for pennies on the dollar and I assume responsibility of negotiating seller carry unrecorded deed. @Rick H. ? Other creative thinkers?

[Rick H.]

Ok, so I totally misread your original post, Derek. Thought the note was owned by attorney in lieu of payment of legal fees.

Suggest you re-post. Have you chained title? Do you have a copy of the note?

Attorney's client purchased property with what is essentially a purchase money note without recording the trust deed? So, it was an uninsured transfer, yes? 

You could buy property with defects and file QTA to offset claims. Someone's going to wake up someday and be unhappy. And you'll be the recipient of defective deed as your seller received acquisition deed pursuant to effect of purchase money debt. Benefit of the bargain not received by prior seller.  I'd argue consideration insufficient and get deed set aside. 

I'd be inclined to talk to everyone and engineer plan to clean up mess for a big chunk of change. Leave the tenant out of picture for now as their lease option only muddles the title facts and circumstances. Consider barter. Offer an equity stretcher. Got a big ugly yellow Motorhome to offer as a placeholder (or lovely parting gift, like on TV game shows)?

A lot of work for a POS property.