Articles Posted in Quiet Title and other Real Property

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arkovich_law-narrowHome sellers and home buyers are likely both waiting for some kind of change in the financing markets right now.

Those homeowners locked in with low rates do not wish to sell, but cannot maintain a standard of living with their current income and increased expenses.  They may not qualify for an equity loan due to tighter credit conditions in the marketplace.  So they believe they are stuck and face mounting credit card debt.

Same with home buyers essentially, although for different reasons.  Mortgage rates above 6%, limited home inventory on the market, and now a limit to the marketability of mortgage bonds will place even more pressure on mortgage rates even if the Fed pauses the interest rates per the Wall Street Journal in its article today “How the Bank Mess Can Hit Home Buyers“.  This will limit home sales for those who are not cash buyers.

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One common myth is that the prior property owner will receive the surplus of any bid over the unpaid taxes.  It’s possible, but not that likely.  The order of priorities for any surplus is:

  1. Government agencies with liens on the property;
  2. Mortgage holders and other lien holders in order of date priority;
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quiet-title2Do I need to have possession to quiet title to property?

No, in fact there is a process whereby we can file a Complaint for Unlawful Detainer along with the Quiet Title Action following a foreclosure sale or tax deed sale for instance.  You do not need a separate eviction and you do not have to wait for the person to be out before you file to quiet title.

How long following a judgment against a mortgage company must I wait to quiet title?

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