Valued Contributor
IOBA
Posts: 2,697
Registered: ‎08-13-2009
Re: Looking for thoughts, opinions, and feedback on a purchase & lien situation.

The beauty of the quick claim deed - it is JUST transferring ownership of the property from one person to another.   Lein holders are not notified of the change.   I would still need to satify the bank lien or risk foreclosure.   Not sure about the other lien.  I am hoping the several people can respond  who know the general rules about this.

 

The original debtor did this to escape the debt/legal proceedings against him.

 

Lol -  the short version - guy refused to pay his bill, creditor went to court to take his property, guy "gave away" his property somewhere in the process so he would not have to pay.  New owners don't want the property, the headaches, or the liens so want to sell it and be done with it.  What are my options to obtain the property?  What are the possible consequences?

 

Please tell me if this is easier to understand.  I never meant the first one to make your head spin!  I was just being detailed, hoping it was enough information.  :smileyhappy: