Legal Question in Real Estate Law in Florida

I am trying to sell my home and my buyers title company has encountered the following:

A preliminary review of title has been done and there is a problem with an old mortgage which may not have been satisfied. The Fund will not allow me to close until this issue is resolved either by providing me with a payoff estoppels or with a satisfaction of mortgage.

The mortgage, given by one of the prior owners in the chain of title, to the SBA was recorded on 12/2/1992 in O.R. Book 15730, Page 3764 (30 year mortgage). There appears a “cancellation of mortgage” dated 12/21/1993 but not recorded until 5/2/1994 (This appears in O.R. Book 16342, Page 3334). Then 8 years later an assignment of mortgage appears for this very same mortgage from SBA to MERS. The assignment is recorded 03/27/2002 in O.R. Book 20291, Page 4022.

I contacted the owner of my home during this time and she has said the title is clear and there should be no issues.

What can I do to get this cleared right away?


Jocelyn Thelen


[email protected]

Asked on 11/28/12, 4:09 pm

2 Answers from Attorneys

David Slater David P. Slater, Esq.
0 users found helpful
0 attorneys agreed

Get copies of the cancellation and the assignment and then contact the parties to the assignment to find out why they filed it.

Read more
Answered on 11/28/12, 5:06 pm
Alterraon Phillips APLaw, LLC
0 users found helpful
0 attorneys agreed

It sounds like the issue occurred with the owner of the home prior to you. If so, and you purchased title insurance when you purchased the home; contact your title insurance company to resolve.

Read more
Answered on 11/28/12, 8:44 pm

Related Questions & Answers

More Real Estate and Real Property questions and answers in Florida

Looking for something else?

Get Free Legal Advice

88953 active attorneys ready to answer your legal questions today.

Real Estate and Real Property Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Glen AshmanAshman Law OfficeAtlanta, GA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now