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not a quit claim deed a quiet deed to get a titled cleared

2007-08-23 14:37:19 · 3 answers · asked by unhappyinin 4 in Business & Finance Renting & Real Estate

ok I need to add some to this I am not obtaining the deed, a house that I like is tied up do to title issues and the bank that has it now (well it is between the bank and the V.A) they put in for a quiet deed about 6 weeks ago, is there a general time frame?

2007-08-23 14:48:27 · update #1

3 answers

I AM NOT an attorney. I AM NOT a real estate broker or sales person.

You may be referring to an “Action to Quiet Title“, aren’t you?

IF this is the issue, there isn’t any time frame. it’s a matter of getting the loose ends which were originally loose, tightened up and squared away.

Title issues could start with when the title was originally searched, something as easy as paying off a loan or mortgage was missed by the title company to out and out fraud and lying by one of the parties involved in the transaction. This is very complex, time consuming AND may be EXTREMELY expensive.

Many Buyers think title insurance isn’t necessary. Believe me, nothing louses-up a sale or a settlement/closing/escrow more than when a Buyer becomes a Seller and that Buyer who became the Seller didn’t have a title insurance company do a proper title search when that Buyer originally bought the property. Result: no title insurance and the problem was allowed to continue. Title insurance is a small investment for a lot of peace of mind.

On at least 2 or 3 different occasions this happened to us. What happened? Due to the fact there is certain language in our Agreements of Sale, AND we ordered a title search for each property, each and every time, we walked away from the deal AND our money was returned.

Thank you for asking your question. I enjoyed taking the time to answer your question. You did a great job - not only for your information, but for every other person interested in reading my answer. Thanks to everyone for reading my answer.

I wish you well!

VTY,
Ron Berue
Yes, that is my real last name.

2007-08-23 18:04:46 · answer #1 · answered by Ron Berue 6 · 0 0

That simply depends on what the cloud on the deed was caused by. Talk to the title company or talk to a "Real Estate" Attorney. I stress "real estate" because just because they are an attorney does not make them good at real estate issues.
No there is no specific time frame for obtaining a quieted deed. There may be situations where someone died or is not able to be reached to satisfy the cloud. In the case of the VA a previous buyer probably obtained a VA mortgage and something transpired that the VA didn't or wasn't able to exercise the VA guarantee. These situations can go unresolved or they could be easily handled. I would still inquire of the title company and see if you can find out what the cloud is all about, sometimes these things can be found on the property appraiser site. Here in Marion County Florida we can look up a lot of items on either the Marion County Property Appraiser site or the Clerk of the Circuit Court, in addition we can ask the title company to look into it for us and usually can get an understanding about what the cloud is and their gut feel as to if it is able to be resolved. Not long ago my husband had a land sale where the deed had a cloud that exceeded the value of the property therefore it was not able to be resolved.

2007-08-23 21:43:59 · answer #2 · answered by Free Thinker 6 · 0 0

Really depends on the circumstances. You need to see a real estate attorney to deal with this. He should be able to give you more insight into how long it will take.

2007-08-23 21:44:37 · answer #3 · answered by bdancer222 7 · 0 0

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