Quiet Title – Not A Silver Bullet
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The newest elixir that is financial grace the American scene is the concept of quiet title. A lot of consumers are under the impression that a quiet title action will get them a house that is free. There’s nothing further through the truth. Why would I’m Sure? Because I wrote a workshop for continuing education that is legal for attorneys.
The workshop has been approved in Florida, Georgia, North Carolina, Wisconsin and Nevada. I have been conducting workshops around the country on this subject and have had an opportunity to talk with homeowners facing foreclosure, real estate investors, mortgage professionals and attorneys. After understanding what the concept really is, all came away with a better understanding.
Quiet title is designed to minimize litigation. Simple and plain. You are bringing suit against anyone that has a recorded interest in your property when you file a this type of action. When you compare a defense that is foreclosure to quiet title the real difference is night and day. Today’s legal system encourages homeowners to find the counsel of attorneys to represent them in a foreclosure. But, and also this is a large BUT. The attorney or even experienced in securitization, assignments, robo-signors, notary fraud and lots of other areas of what has really happened, is supposed to be lost in court.
Okay, so now you are comfortable since your brother-in-law found you a attorney that is good gets it. Here is the scenario that has occurred around the country. The well attorney that is intentioned you in court exactly what is he really doing? He could be wanting to loosen up the process that is foreclosure. Paying an attorney on a basis that is monthly of this bank creates cheap rent for your needs. But, you have to continue steadily to finance the efforts of the attorney. At the conclusion of the when the lights are turned out, the attorney comes to you and says “we won” day. You won what? A dismissal was won by you without prejudice. This implies the counsel that is opposing says to the judge, “see you next month, because we will be back”.
Now The picture is got by you. Foreclosure defense is dependent purely on the ability that is financial to for the attorney and court costs.
Now, let’s take a look at what a title that is quiet is about. In this particular an action you may be simply becoming the plaintiff rather than the defendant. It is a move that is major. In a defense that is foreclosure you may be the defendant. But why don’t we reverse the scenario. Why don’t we place the football in the opponents two yard line and you’re planning to have it in to the final end zone. All you need is an attorney that understands this implementation of law..
A lawsuit is filed against anyone with a interest that is recorded. How can you find this out? You have got a title search done and it surely will reveal that has a recorded lien or interest. I know of an example here in SW Florida where an attorney and estate that is real paid a bank $ 153,000 cash for a property in a foreclosure sale in addition to bank would not OWN YOUR HOUSE. Knowing that has a recorded interest may be the real intent behind a title action that is quiet. Once you have served notice on the party/s that have a recorded interest, here is where the ice gets thick.
They MUST PROVE in court that an interest is had by them in your premises. It has nothing in connection with simply how much is owed. A quiet title action is heard under contract law rather than law that is tort. Therefore the amount of the debt is NEVER disputed or debated. The argument is that has a pursuit this is certainly provable. IF, you thought to the Judge, “Your honor, We have an avowed check to cover my loan off”. “Can you tell the counsel that is opposing give me my original note back once I pay back this debt?” It shall never happen because the note was used as the funding mechanism when your loan was sold on Wall St. I can go on and on about this subject, but I wanted to touch on the logic of this subject.
Once the lawsuit has been served, the defendant/s MUST answer in twenty days or in some jurisdictions, thirty days. Yes, some homeowners have won a title that is quiet and also gotten property free. BUT, this is certainly rare. An excellent quiet title action will flush out of the real parties in interest, providing you a chance to sit over the table and negotiate using the lender that is true. This saves thousands of dollars in litigation costs when you are dealing with pretender lenders, service companies and others that have no “skin in the game” or as the arena that is legal to “no standing”.
Respectfully, Regis Sauger Author/Speaker
