Need Advise

Found a property that has a judgement against it but is not yet in forclosure. (The property was used as security for a family business loan/ husband and wife divorced and wife was degreed the person real property). Have spoken to the owner and they appear willing to turn over the deed if I satisfy the judgement. Need advise on how to proceed from here.

Comments(4)

  • JohnMerchant24th August, 2003

    If you're serious about this, I'd recommend getting a title co. to check and guarantee title is OK, except for the outstanding J.

    That should be done only after you've got a signed P&S agreement from seller.

    Then, carefully approach the J holder and see if you can't buy that J for cents on the $.

  • morehouse25th August, 2003

    Thanks for the reply. Will the judgement debtor (legally) talk to me at this time or do I need some type of a release from the owner?

  • DavidBrowne25th August, 2003

    Have the owners sign a release, then see if you need it.

  • morehouse25th August, 2003

    Thanks - What type of release and where can I find one.

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