Six years ago my husband and I bought part of the lot next to our house from the neighbor who was building a house. The property sale was done through a lawyer and we have a quit claim deed and it is on record with the county recorder, as we have been paying taxes on it since we bought it. We went to refinance our home last summer and the lawyer involved in our refinance did a title search on our extra lot in order to include it's value in our appraisal and it has a lein against it from the neighbor's mortgage company. My question is shouldn't their mortgage company have checked to make sure none of the property had been sold prior to finalizing their mortgage back in 2006?
1 Answer from Attorneys
Depends on the timing of the transfer to you and the mortgage transaction. You should request that the neighbor provide you with a partial satisfaction, as to your land. They can obtain this from their mortgage company. If you need a lawyer to assist you, feel free to contact me. [email protected]