Can I Record The Contract
I'm involved in a deal where the seller is trying to back out. We were suppose to close on the 23rd but his Realtor states that "he's not happy with the money he's getting out of the deal." I was told that I can record the contract to cloud the title is this true?
Try recording a "Memorandum of Contract".
Good luck, herbk
In most states* a Memo of Equitable Interest or Contract" can be recorded, but I'd recommend talking to a local RE lawyer to get help on recording that document that is most effective in clouding the title.
All too many title companies are willing to "bond around" an out-of-order document, and let the seller proceed to convey to a 3d party.
So this is particularly and specifically what you'll need to circumvent if possible...to get and record that document that most title co's are unwilling to bond around.
Probably the most effective legal maneuver is to file a Suit for Specific Performance, to force the seller to follow through and perform on his contract...and to simultaneously record a Lis Pendens. That DOES block and cloud the title pending an outcome of the litigation.
*Not in CA, as CA has short list of recordable docs and Memo of Equitable Interest is not on it.