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Updated over 5 years ago, 03/19/2019

User Stats

39
Posts
11
Votes
Joel Ray Cotton
  • Saint Louis, MO
11
Votes |
39
Posts

Deed of Trust owned by bankrupt company?

Joel Ray Cotton
  • Saint Louis, MO
Posted

I am purchasing a property in St. Louis that has a Deed of Trust being held by TransAmerica Financial Services, A California Corporation. That company is bankrupt, and that deed doesnt expire until 2031. What are my options here? It looks like in the 80s the past owner borrowed money against the properties and then that company went bankrupt.  I cant get a Deed of Release as that company is no longer around. 

There are a ton of cases that went after them in the past before they were bankrupt for ****** lending practices.  Doesnt make me feel good about my 401K being with TransAmerica now, but thats beside the point.

https://caselaw.findlaw.com/mo-supreme-court/10922...

https://law.justia.com/cases/california/court-of-a...

https://law.justia.com/cases/arizona/supreme-court...

Anyone have any advice on how to handle this?

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