Legal Question in Real Estate Law in California
I purchased a home almost a year ago and find myself repeatedly falling behind in payments. My family and I are debating signing a deed in lieu of forclosure, do i have to grant deed the property to myself before i can sign the deed in lieu?
Asked on 2/06/13, 11:05 pm
2 Answers from Attorneys
Anthony Roach
Law Office of Anthony A. Roach
That doesn't make sense. Why would you have to deed the property to yourself if you already own the property?
Answered on 2/07/13, 8:07 am
Mr. Roach is right. Why would you deed to yourself when the seller you bought from deeded it to you already? More importantly, though, be VERY careful with a deed in lieu. Unless you have a very good deed in lieu agreement, you will not have the legal protections you would have if you were foreclosed on or went through a short sale, and the damage to your credit may be just as bad.
Answered on 2/08/13, 12:25 am
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.
