Posted on: 07th May, 2008 02:33 pm
Hello from Va.
Home on lot #1 had a reverse morgage done on it before parent passed away, then according to the will, was left to me with interest now incurring monthly, plus there are 4 other adjoining lots to be divided equally among the three of us. When the survey was done to sell the home, they found that part of the home encroched onto one of the other lots, so to fix the problem, we had all surveyed again to allow part of # 2 lot included in #1 lot, and placed an easement for a road to the other 3 lots. These have not been recorded at the city yet due to the fact that the other two family members have hired an att. to represent them, plus in letter states they can file a quitdeed.
Question is:
If I sign the quitdeed, and these lots and their positions change, what happens to the the lien that the reverse morgage company is holding and I am the one that the house on lot #1 is left to? :(
Home on lot #1 had a reverse morgage done on it before parent passed away, then according to the will, was left to me with interest now incurring monthly, plus there are 4 other adjoining lots to be divided equally among the three of us. When the survey was done to sell the home, they found that part of the home encroched onto one of the other lots, so to fix the problem, we had all surveyed again to allow part of # 2 lot included in #1 lot, and placed an easement for a road to the other 3 lots. These have not been recorded at the city yet due to the fact that the other two family members have hired an att. to represent them, plus in letter states they can file a quitdeed.
Question is:
If I sign the quitdeed, and these lots and their positions change, what happens to the the lien that the reverse morgage company is holding and I am the one that the house on lot #1 is left to? :(
Your question is too complicated to answer in a forum. You need to consult with a real estate attorney right away.
Hi So Sad,
I am sorry to hear of your dilemma. Jheard is right, yours is a very complicated situation and I hope you can find a good atty to lead you through this.
Kim
I am sorry to hear of your dilemma. Jheard is right, yours is a very complicated situation and I hope you can find a good atty to lead you through this.
Kim
