Legal Question in Bankruptcy in California

Re: Legal Documents

Interesting question . . . Chances are good that the Security Agreement might not be enforceable, however, if this loan is secured by real estate, then you probably also signed a Deed of Trust which has been recorded against the property. The Deed of Trust actually contains the power of non-judicial sale (generally - you need to specifically review the documents you signed or did not sign), and as such, they can still foreclose under the Deed of Trust. That being said, if this is a loan secured by real estate, you may wish to have an attorney forensically audit the entire loan, as mistakes such as this may give you grounds to potentially renegotiate the loan, or in some cases, invalidate the loan (though I doubt that remedy is available for failure to sign the security agreement).

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Re: Legal Documents

It depends. Contact my office if you wish to discuss.

Best,

Daniel Bakondi, Esq.

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