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Updated almost 4 years ago,
Is 'The lien of the plantiff is superior in dignity...' right?
I'm thinking of buying a property at a foreclosure auction with a complicated title history- there are 27 mortgage and release records alone for the one owner in the last 30 years. I believe I've matched up liens and releases or satisfactions except for about 190K in 4 remaining loans from the Small Business Association, but there are two things that make me think it's better than I understand:
1) The foreclosure doc asserts that "the line of the plaintiff is superior in dignity to any right, title, interest, or claim of the defendants, (list of defendants including the HOA and the SBA) and all other persons claiming by, through, or under the defendants and the property will be sold free and clear of all claims of the defendants...
This asserting that it's superior makes me think that any other lien is inferior? Or do I just not understand lawyer speak?
2) The SBA being the only lien holder left that I can deduce and being in the defendants list, that indicates that their liens would fall off of the property during this foreclosure sale, is that right?
Thanks so much for the advice and help- my 1 and 3 year old appreciate it very much!