Quiet Title Action
Can anyone give me a ballpark on how long it takes start to finish to get a quiet title on a property. I realize there can be many variables, but I need a ballpark on a property I have tied up in Michigan.
I cannot get a clean title, because of a mortgage company that is on title from several years ago and has since gone bankrupt. Thus my title company cannot get any kind of documentation from the company stating they have no claim to the property.
My problem is that the seller has been in the beginning stages of foreclosure for a couple of month and the current lender will be setting a sale date sometime next month. Do I have time to try to get the title clean in under a month and around the holidays?
Any input is appreciated.
Dan
Probably NOT possible to get J in a month, as in most states, it's going to take you about a month to get "service" of notice on the other parties, then get your hearing/trial...and even if it's a default J, most courts are so busy you'll have to wait in line for a few weeks to even get a short court hearing.
This is correct in the case that I experienced. It took several moths to attempt service of notice, then to get a court date to hear the motion for default judgement, it took two months. After the hearing, the judge will have to sign the order and it goes through the clerks office (in my case due to papers being overlookked on someones desk, 4 weeks). This could take some time.
You can always take the property subject to the inperfection. You likely cannot get conventional financing in this case but cash is king. After you have tied up the property, you can likely then proceed to clear the title.
This is my layman's opinion and you should certainly consult an attorney before you go further if you are going to.