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Updated almost 10 years ago on . Most recent reply
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Quiet title attorney in California - HOA foreclosure
I'm in contract on a HOA foreclosed property in Sacramento and in order to get a clean title I need a quiet title action. The seller (HOA) is not willing to do it without their hand being held. Any lawyers your would recommend to help clear this??
The property was foreclosed on almost 5 years ago and wiped out the FTD and no claims have been made, nor are there any active TDs.
Any advice would be appreciated!
Most Popular Reply
Originally posted by @James Peterson:
@Dennis LanniFTD - First Trust Deed
I have a title report and my escrow officer warned that unless the FTD is reconciled or at least a quiet title action is done they will not insure the title. Although it's been a few years since the foreclosure and no one has claimed anything yet. It would be a screaming deal even if I had to pay $2-$3k for the quiet title action.
It seems really risky to buy it without doing the QT.
The other peeve is that the property tax is delinquent and will go to auction next year.
The QTA won't be $2-3K. The filing fee and publication will be that much. Trust me on that one.
Regardless, I'm curious what the title report says. It sounds like there IS an open trust deed. Perhaps it's by a defunct lender? There is a statute of limitation on note collection but that trust deed is alive, if ailing a bit