Legal Question in Real Estate Law in California
Forclosed house , city wants me to sign a quit claim deed, should I?
About 5 years ago, my house in Minnesota was foreclosed on. I
have been living in California since then. The bank that foreclosed
is out of business and they bank they sold the foreclosure to is out
of business and now it is owned by Bank of America. BofA wants
nothing to do with it, and the city wants the house torn down or
repaired since it has been vacant for 5 years. Apperently the
foreclosing never transferred the deed, and it is still in my name,
and now the city wants me to sign a quit claim. I am concerned
about what my legal liability by signing and by not signing.
Any advice?
4 Answers from Attorneys
Re: Forclosed house , city wants me to sign a quit claim deed, should I?
A big-time advice, deal with this immediately. If you are correct in the trail of ownership of the foreclosed property you may want to do one of two things. This will depend upon your finances and the value of the property today. You could make lemonade out of all these lemons if everything falls into place and goes right for you. Contact an attorney who can give you very good advice. He must get all the Bank of America and iron out what the problem isn't with that entity. Better an attorney who knows what he or she is doing then you. Remember, with all due respect, with all of your knowledge you had property that was foreclosed upon. I am in the San Francisco Bay Area and been practicing real estate law/financing for over 30 years. If you wish to contact me I am at 925 -- 945 -- 6000.
Re: Forclosed house , city wants me to sign a quit claim deed, should I?
Contact an attorney in Minnesota to help you.
Re: Forclosed house , city wants me to sign a quit claim deed, should I?
This isn't advice. For advice, I need a consult fee to help pay my malpractice insurance to cover the trouble I can get into by giving advice.
That said, here's a comment or two. I would see it as a good idea to sign the quit claim deed, because if the place remains in your name, someone could sue you when they get hurt in the process of burning the place down.
Good luck.
Re: Forclosed house , city wants me to sign a quit claim deed, should I?
In California a quit claim deed merely transfers your interest if any in the property. However, as stated by Mr. Holben you should contact an attorney minnesota for advice on the law in that state. YOu could resubmit your question and list Minnesota as the state, rather than california.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
