Legal Question in Real Estate Law in California
How late can a Quitclaim Deed be filed after being signed and notarized between
If a QuitClaim Deed is signed, notarized between(Owner & Renter) but not
filed w/the Mortgage Lender or Title company by the Renter, would the
Renter be able to file it now even though she neglegently let it proceed to the
point of forcloser? (Though Not Foreclosed On Yet. An agreement was made
between Owner and Lender to pay $3865.00 by 7-30-04.) The agreement
between the Owner and Renter was that the renter would be responsible for
making all payments on time to the lender but the Renter kept this default
amount and preeminent foreclosure status HIDDEN from Owner/TITLE
HOLDER which damaged Owner's credit score and violated their mutual
agreement! The Title Holder had no idea that Renter was consistantly making
the payments late until she tried to get approved for a loan/buy a house and
found the damage on her credit report. How late can the Quitclaim Deed that
is still in the possesion of the Renter be filed after being signed and notarized
between Owner and Renter.
3 Answers from Attorneys
Re: How late can a Quitclaim Deed be filed after being signed and notarized betw
This sounds messy.
Deeds are effective upon execution and delivery. Recording only puts the world on notice of the transfer. The foreclosure is irrelevant with respect to transfer of the property via the deed.
Re: How late can a Quitclaim Deed be filed after being signed and notarized betw
Execution and delivery of the quitclaim deed is all that is needed to transfer title of the property to the "renter." Hence, the "renter," can record the deed with the county recorder at any time, and it will be effective as between you and the renter.
Of couse, whether title to the property was ever transferred to the renter, and whether the renter ever recorded the quitclaim deed, has nothing to do with the loan on the property. Unfortunately, simply giving the property to someone else does not relieve you of the obligation to pay the loan off. The two are completely separate and independent issues.
You should immediately seek the services of an attorney in your area who practices in real estate and real estate litigation. You probably have a cause of action against the renter. However, unless you do something to stop the foreclosue (i.e., pay the amount demanded by the lender), the property will be lost, and your only remedy will be to sue the renter for the "damges" you have incurred (i.e., the value of the property, or your out-of-pocket damages, among other things).
Re: How late can a Quitclaim Deed be filed after being signed and notarized betw
Please contact my office at 714 363 0220 to set up an appointment. I would like to review your written documentation including any letters. We handle cases throughout California. We can review your documentation by fax and speak with you by phone.