Judgements
Talked to a title examiner today. If a foreclosure liens by goverment would stay.
But any judgements like credit card debt would be wiped out only if dated after bought house. If dated before then it stays as a lien.
Any thoughts?
I don't understand what you are saying. Why would credit card debt become a lien on a property?? It is impossible. Yes, the title examinar is right about government liens.
I think you didn't understand what the title co. person told you.
Once a lien goes onto a property, it's going to stay there until it's released or dies an old age because of statute of limitations...even then, it's not automatically "gone" after the SOL runs.
It has to be removed by lawsuit and court order, and if no lawsuit is filed to do so, it's staying on the RE.
I've seen a lot of liens on RE that technically should not have been on there, but since nobody had ever filed any kind of suit to "clear" the title,. they stayed right there, clouding the titles.
FYI, though, a J is NOT any kind of automatic lien against any RE. It first has to be recorded in the county of the RE, and if it never is, it does NOT become a lien.
Of course, if the J debtor has conveyed the RE before the lien attaches, the lien is an invalid lien, and no title co. would honor its existence. They'd "write" or bond around it.
I was checking on a foreclosure. He pulled a copy of a old credit card judgement that was recorded before the first mortgage.
He told me to ask the foreclosure attorney about this. If it was taken care of. Or I should expect to have to pay it if I won at auction.
Ray
To get real good advice, go talk to a title co. officer in that locale, and pay for a title search, and have him tell you what they're going to require paid in order to get you clear title.
Probably $250 will buy you a great and trustworthyj opinion on which you can safely rely...and even if you don't personally buy the RE, you might well be able to sell that title opinion to somebody else.