Legal Question in Real Estate Law in California

Memo affecting real property
I have a client who is trying to Refinance, and we pulled the title report, and everything looked in order. Title was ready to make their payoff and found a new recorded document on title that we were all unaware of...other than the borrowers, who didn't make us aware of this. There was a Memo affecting Real Property recorded, stating that the owners filed a suit against the home builder for construction defects (home was built approx 10 years ago), and the defendants settled out of court and did not admit to or state they were responsible for defects in workmanship or product. My question is why does a document like this get recorded? And who requires that it is recorded? Can it be ''removed'' from the chain of title? And does this usually scare lender?

Asked on 11/15/07, 5:05 am

Bryan Whipple Bryan R. R. Whipple, Attorney at Law

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Re: Memo affecting real property

I have just posted a detailed response to the same or a very similar question, probably from the same person. Please refer to it.

Answered on 11/15/07, 1:41 pm

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