Legal Question in Real Estate Law in Arizona

real-estate/investment fraud

we are involved with pacific wealth real/estate fraud that sold our home to an ''investor'' within pacific wealth that doesn't want our home that we still live in. if we transfer the title to our name, would he still be responsible for the debt to the mortgage companies?


Asked on 4/15/07, 5:35 am

2 Answers from Attorneys

Gloria Meyer Meyer Law Office

Re: real-estate/investment fraud

You have given no information about the real-estate/investment fraud, so I have no sense of how that might affect you. Generally speaking however, the title and the mortgage are two separate things. Transferring the title does not also transfer the mortgage and the person who obtained the mortgage loan ("the borrower") will remain liable. The borrower will not be relieved of his obligation to pay the mortgage unless the mortgage lender allows the new owner to assume the mortgage, or the new owner gets a new loan and pays off the old mortgage. If you are dealing with real-estate investment fraud, you should definitely tread carefully and seek competent legal advice before you commit to anything. Some people are going to be going to jail, and I assume that you don't want to be one of them.

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Answered on 4/18/07, 2:42 pm
James Jenkins Jenkins Law Center PLC

Re: real-estate/investment fraud

Your question is beyond the scope of this Law Guru forum, in that a review of the contracts and documents and the complete facts of your case are required to give you an opinion. There are insufficient facts presented by you to know how to advise you. You do not state what the fraud was, so it is impossible to know how to address it.

See a real estate attorney and present all the facts and documents to him or her for help.

Best regards and good luck.

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Answered on 4/15/07, 1:10 pm


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