Posted on: 27th Aug, 2010 08:56 am
I purchased a home in good faith. I signed a Deed of Trust at closing but discovered that it was recorded as a Statutory Warranty Deed. I am liable now for the clouded Title. I would never have agreed to any such contract if I was told the status of the property's title. I have gotten no help from title company and do not know what to do. I don't think I even own the property now. Any ideas? I live in Washington State and they have nonjudicial foreclosures.
Hi vdanmil!
Welcome to forums!
I don't think you would be liable for a clouded title. A statutory warranty deed is a form of real property conveyance in some of the states. It is an abbreviated form of a warranty deed. If you have the warranty deed in your name, you would be considered as the owner of the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I don't think you would be liable for a clouded title. A statutory warranty deed is a form of real property conveyance in some of the states. It is an abbreviated form of a warranty deed. If you have the warranty deed in your name, you would be considered as the owner of the property.
Feel free to ask if you've further queries.
Sussane
Thank you for your response and kind welcome Sussane. This is the first forum where I have asked a question. It is a relief to know that I am not the only person who finds home buying/selling deliberately confusing. The issue with the conveyance used when I bought my house is the Title Insurance policy was never written. I got a copy of the Lender's though and it contains exemptions for everything one is told you need it for! It's as though I bought the place at auction, but without the lein list. If I do not take care of these debts left from prior owner, I can not sell this property. I never even knew that the Title was messed up and should have been told by the Realtor or lender. I got a quick look at County records, which are under the parcel number and there's my husband's name with me tacked on as "wife" listed as Tax payers! That can't be good, Or is this normal? I am worried by this.
Hi Danielle,
It is true that once you buy the property, if there is a lien on it, then you would be liable for paying it off or else, it will be difficult for you to sell off the mortgage. Once you become the owner of the property, you would be liable for the tax payments as well and this is quite normal.
Thanks
It is true that once you buy the property, if there is a lien on it, then you would be liable for paying it off or else, it will be difficult for you to sell off the mortgage. Once you become the owner of the property, you would be liable for the tax payments as well and this is quite normal.
Thanks