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12-13-2006, 08:47 PM
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#1 |
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foreclosure
I sold a 3 acre lot to a married couple several years ago and financed the purchase price myself and now they have stopped paying. I'm afraid I may have to foreclose on the property, but in researching the title, I discovered a lien which had been put on the property, without my knowledge. Apparently, I am not the only one they aren't paying. Can I proceed with the foreclosure and what becomes of the lien if I do? Am I to be held liable for payment?
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12-13-2006, 08:54 PM
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#2 |
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Re: foreclosure
When you sold, did the deed remain in your name (until payment finishes)? Or did you transfer it to them?
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12-14-2006, 06:48 AM
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Re: foreclosure
The deed was put in their name.
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12-14-2006, 09:21 PM
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Re: foreclosure
You can foreclose but you would take the property subject to that lien still if the lien is valid, not fraudulent etc.
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