Legal Question in Real Estate Law in California
lease with option to assume existing loan
i am leasing a house i was supposed to be able to assume the loan after two years my problem it�s a land home deal i am paying seperate on the land i found out there are two entities holding titel to the land i was forced to pay for the fireinsurance not in the lease the owner will not pay i was told if i do not pay they will take action the tax bills came in my name i do not own the house I payed the back tax on the land i have proof that its seperate from the house i also have papers of the original sale of the house the land was used as downpayment and is financed with the house i stopped paying the land to get some papers I have the noterised quitclaim deed the loan co informed me to research they hold title and i should not be paying for land they hold titel to where do i go from here i payed a lot on both house and land on my pension i am a diabled housebound veteran the broker that handled the sale informed me he is not responcible and has nothing to do with it today i got papers they are going to repo the land if i do not pay them the same people that told me they do not own the titel. i am cought up in a web and do not know where to go from here can you help thank you
1 Answer from Attorneys
Re: lease with option to assume existing loan
You need personal legal representation at once. I do not know the dollar values of the land, the loan, the tax bills or any of the other numbers involved here, but compared with the cost of retaining a lawyer, the lawyer will be cheap.
You should find a lawyer with real-estate experience in your county. You need someone you are compatible with personality-wise, who will take the time to understand the mess you are in, analyze it carefully, and explain your alternatives to you so that you understand fully what you're being told.
I think there is a way out of this situation that will preserve your rights and punish those who may have defrauded you or at least who took advantage of you. However, the situation is far too complex for giving advice by e-mail. Your lawyer will have to review a lot of documents and public records and probably write some demand letters on your behalf. Regrettably this is going to cost you some legal fees but you will improve your chances of preserving your equity in the properties, avoid eviction or foreclosure, etc.
Half the battle is finding the right lawyer. You need someone you can communicate with. You do not necessarily need someone who is brilliant, because the issues are not that complex, but you need someone who has the time to go to bat for you right away and not drop the ball until matters are resolved. Good luck.
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