Legal Question in Credit and Debt Law in California

Re: Forms for recovery of Loans used forProperty and other Debt

The time to have secured your interest in the real property was when you lent the money, you should have demanded a note and deed of trust. If the debtor won't pay voluntarily you can sue and get a judgment which can be enforced against the property - if you hurry. I bet you won't get paid.

Re: Forms for recovery of Loans used forProperty and other Debt

Will the debtor(s) voluntarily sign a promissory note and deed of trust now? That's the only way to get a lien without filing a lawsuit. Without a lien, the only way to "force" them to pay is to sue, get a judgment and then recorded a judgment lien against the house. Otherwise, you have to rely on their ethics to pay you.

Re: Forms for recovery of Loans used forProperty and other Debt

There are no "forms" that you can magically fill out and ensure repayment; the way to ensure repayment is to have recorded a deed of trust or a consensual lien against the property at the time that the money was loaned. If you did this correctly and recorded correctly, then you are covered. If you did not, then you cannot automatically gain any portion of the proceeds from the contemplated sale without the consent of the holder of title.

You should consult with an attorney familiar with real property transactional issues.

Re: Forms for recovery of Loans used forProperty and other Debt

Of course, it would be ideal if you had a note and deed of trust, but even if you do not, then you should have something in writing. So long as you have something in writing saying you have an interest in the home, I may be able to help you get your money from the foreclosure sale, presuming there is enough money invlolved to make it worth it for you to hire an attorney. If you do not have anything in writing, then we will have to file a lawsuit; but even so, we can probably attach the proceeds of sale if we act quickly enough. I believe I may be able to help you, but you need to act quickly. You may contact me for furhther assistance.