Legal Question in Real Estate Law in California

Never got a reconveyance - lender now bankrupt

I have documentation showing my parents paid off a loan (secured by their home) back in 1986. An escrow company handled the transaction, but they are now out of business.

Despite receiving payment, the lender never sent my parents a reconveyance, and the company is now bankrupt. The deed is still showing up on my parents home.

The beneficiary on the deed of trust (the lender whose company went bankrupt) was contacted recently. I provided him with written documentation of the payoff, but he refused (on advice from his attorney) to provide me a reconveyance as the company is now bankrupt.

I am trying to avoid thousands and thousands of dollars in legal bills, and try and understand what steps I can take. Rather than getting a bond, I would live to get this deed reconveyed.

Can I petition the Orange County, California bankruptcy court?

Must I hire an attorney? What kind of time is required to get this done?

Any suggestions on what I should do would be greatly appreciated.

Thank you!

2 Answers from Attorneys

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