Would a Deed be considered legal and binding if the property being deeded to someone has a lien on it, the lender was not informed of the deed and the joint party on the loan was also not informed of the transaction being done?
![]() |
Would a Deed be considered legal and binding if the property being deeded to someone has a lien on it, the lender was not informed of the deed and the joint party on the loan was also not informed of the transaction being done?
First its not a good idea to piggyback your question on someone else's. This can lead to confusion. You should start a new thread. So I've moved your question to its own thread.
Its possible a deed could be voided if the property were transferred without satisifaction of the lien.
Normally a deed can be voided ( but not automaticly) if there is a lien on the property. This is of course why a title search needs to be done, and title insurance purchased.
If on the other hand there lien was not recorded prior to the purchase, there is a possiblitly that the lien can be voided.
I'm sorry but I'm not aware of any law or case law that allows a deed to be voided because there was a pre-existing lien on the property. The only reasons I know of for a deed to be voided are for mistake (such as an error in the legal description) or fraud.
Upon learning of the transfer, the lender always has the option of accelerating the loan and foreclosing if the loan is not paid in full.
All times are GMT -7. The time now is 06:07 PM. |