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Updated over 1 year ago on . Most recent reply
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Quieting title via time instead of lawsuit
A fellow land investor told me on small tax deed deals instead of paying $2k+ for a quiet title suit, I could just sell on a land contract with a stipulation for no payoff for 2 years minimum. 2 years pass and title is quieted via the passage of time, no lawsuit needed. I could convey via special warranty deed or even general warranty deed.
Is this correct? If there's still a tiny risk, I don't mind. I just want to be sure there's no major risk to this as I've never heard you could skip the lawsuit before.
Is this correct? If there's still a tiny risk, I don't mind. I just want to be sure there's no major risk to this as I've never heard you could skip the lawsuit before.
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Jay Hinrichs
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Quote from @Wayne Brooks:
@Sam Tright Every state is different and also vary as to whether this timeline cures a defect that would result in a “voided sale”. In FL the waiting period is 4 years. You would also have a liability issue from the buyer if the sale was overturned during your land contract period.
CA is 5 years for most title companies to insure.. SC is 10 years.. etc.
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