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Foreclosure with a missing title.

Discussion in 'Foreclosure, Repossession, Auctions, Short Sales' started by slayerforever, Jul 19, 2013.

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  1. slayerforever

    slayerforever Law Topic Starter New Member

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    We bought a home. Shortly afterward the lender sold our mortgage to another company and somewhere along the way the title was lost. Then the property went into foreclosure, but no one can buy due to having no title. The last time we went to court, the judge told them that if they came back without a title, she'd dismiss the case with prejudice and give us the property. Now this company has gone and sold the mortgage again to another company. This way they get some of their money and are out from under a property that they cannot sell, cannot prove that they own. I am fairly sure that the new company is unaware that they have purchased a mortgage without a title to it. What should we do? Thank you in advance for your help
     
  2. slayerforever

    slayerforever Law Topic Starter New Member

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    I am sorry; just want to clarify as I think maybe I didn't word this quite right. The first company was not able to continue with foreclosure because they didn't possess the title. What we need to know is what to do about the new company. Should we give them a heads up on the fact that it has no title? Or just wait and see what sort of communication we receive from them?
     
  3. army judge

    army judge Super Moderator

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    A fish gets caught when he bites that worm on a hook. A criminal gets nabbed when one of his pals snitches. Why rain on your own parade? If I were you, I'd keep my big mouth closed. Blabbing never helps you, never.

    Why on earth must you feel compelled to say anything? HINT, don't answer, THINK about what the judge said!!
     
  4. slayerforever

    slayerforever Law Topic Starter New Member

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    Okay, well now they've sent us a letter saying that they want a first payment of $65,000. Do we ignore it? Or what do we tell them?
    Thank you!
     
  5. disagreeable

    disagreeable Well-Known Member

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    If they do not possess the title, proving ownership, you do not owe them money. If they take you to court, compel discovery for them to prove their debt. If they cannot prove the debt, you motion for dismissal. I suggest you hire a lawyer to teach you what motions to make when.
     
  6. slayerforever

    slayerforever Law Topic Starter New Member

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    Thank you very much! And, if they cannot produce the title, is there any way that we can get a title for it?
     
  7. army judge

    army judge Super Moderator

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    Have you considered ADVERSE POSSESSION?


    How did you come to live on the property?

    Did you buy the property under a mortgage?

    Did you just begin occupying the property?

    Did you rent the property from an owner who was foreclosed upon?

    If you wish to stay on the property, have you considered the doctrine of adverse possession?

    Florida: Adverse possession.

    http://www.leg.state.fl.us/Statutes...ing=&URL=0000-0099/0095/Sections/0095.18.html

    Florida has one of the most interloper friendly adverse possession statutes in the USA.

    The law may have changed a couple years ago, as I'm not licensed to practice in your state.

    But, I know several Florida attorneys and we discuss things from time to time.

    Google "FLORIDA YOUR COUNTY ADVERSE POSSESSION FILING"

    See if you qualify for a deed using the doctrine of adverse possession.

    http://www.wpbf.com/news/money/real...est/-/8788660/20297028/-/wua5d2z/-/index.html

    http://www.wptv.com/dpp/about_us/as_seen_on/florida-adverse-possession-law

    THE LAW IN FLORIDA:
    When the occupant has, or those under whom the occupant claims have, been in actual continued occupation of real property for 7 years under a claim of title exclusive of any other right, but not founded on a written instrument, judgment, or decree, the property actually occupied is held adversely if the person claiming adverse possession made a return, as required under subsection (3), of the property by proper legal description to the property appraiser of the county where it is located within 1 year after entering into possession and has subsequently paid, subject to s. 197.3335, all taxes and matured installments of special improvement liens levied against the property by the state, county, and municipality.
    (2) For the purpose of this section, property is deemed to be possessed if the property has been:
    (a) Protected by substantial enclosure;
    (b) Cultivated or improved in a usual manner; or
    (c) Occupied and maintained.
    (3) A person claiming adverse possession under this section must make a return of the property by providing to the property appraiser a uniform return on a form provided by the Department of Revenue. The return must include all of the following:
    (a) The name and address of the person claiming adverse possession.
    (b) The date that the person claiming adverse possession entered into possession of the property.
    (c) A full and complete legal description of the property that is subject to the adverse possession claim.
    (d) A notarized attestation clause that states:

    UNDER PENALTY OF PERJURY, I DECLARE THAT I HAVE READ THE FOREGOING RETURN AND THAT THE FACTS STATED IN IT ARE TRUE AND CORRECT.
    (e) A description of the use of the property by the person claiming adverse possession.
    (f) A receipt to be completed by the property appraiser.

    The property appraiser shall refuse to accept a return if it does not comply with this subsection. The executive director of the Department of Revenue is authorized, and all conditions are deemed met, to adopt emergency rules under ss. 120.536(1) and 120.54(4) for the purpose of implementing this subsection. The emergency rules shall remain in effect for 6 months after adoption and may be renewed during the pendency of procedures to adopt rules addressing the subject of the emergency rules.
     
  8. slayerforever

    slayerforever Law Topic Starter New Member

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    How did you come to live on the property? We bought it as a land/home package.

    Did you buy the property under a mortgage? Yes. In my initial post, you will see that the original mortgage company sold it to another company before we even made our first payment. I think this is where the title was originally lost, as the second company couldn't even find the paperwork saying they had bought our mortgage.

    Did you just begin occupying the property? We have lived here for 6 years.

    Did you rent the property from an owner who was foreclosed upon? No, we were buying it.

    I don't think that the adverse possession would apply to us because
    1)We've only been here 6 yrs, not 7 and
    2)We have not paid property taxes; haven't gotten a bill for them. We were told by one lawyer back in the beginning of this mess NOT to, because he said it would 'raise red flags'.

    Basically, I just want to know:
    1) Do I wait for them to take us to court, and then compel discovery and move to dismiss, or do we take the initiative and send a letter of demand asking for proof that we owe them and that they have the title?
    2) IF we get it dismissed, is there a way for us to get the title?

    Ya'll are so helpful; thank you :)
     
  9. army judge

    army judge Super Moderator

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    I suggest you invest $500-$1,500 to discuss this with a good real estate lawyer in your county. You've invested good money into this deal.

    You may have been defrauded by the original seller and/or the mortgage company. If a real estate agency was involved, they may also have dirty hands.

    Never buy real estate without retaining your own attorney and doing a thorough title search.

    As to property taxes, you've paid them (the mortgage company should have an escrow account to do just that), and you've funded that escrow.

    At this point, there could be other options available to you. Investing a little money to protect a significant investment is your best bet.
     

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