Legal Question in Wills and Trusts in California

Property was sold in California that was held in trust with my wife and I as grantors and trustees. We carried back a 2nd note held in the same trust. I wanted to foreclose my wife did not NOD was recorded. During the negotiations wife agrees to reconvey property to borrower and accepts payment. Borrowers paid wife about 3/4 of what was owed on the note. wife submitted trust cert that said only one trustee signature authority was needed. weeks prior to payment I sent several emails and letters stating she did not have authority that trust was modified and her authority was revoked. I want to foreclose on balance due. Borrowers knew I was against the settlement I was out of country when they made this deal thinking I was unaware. They proceeded with payment against my written advice not to. I have recorded notice of rescission of reconveyance to prevent sale or refinancing. Foreclosure company wants attorney to review and written letter saying it is ok to proceed with foreclosure.

Asked on 10/19/12, 12:31 am

Anthony Roach Law Office of Anthony A. Roach

0 users found helpful

0 attorneys agreed

That scenario is going to definitely require attorney review. I see a number of issues that would have to be addressed.

I'm not in the Laguna Beach area, but do have clients in that area. Send me a private e-mail if you would like a fee quote.

Answered on 10/19/12, 9:57 am

Keywords

Match Any Match All

Country

State

Area of Law