Legal Question in Real Estate Law in Florida

Investor Has my Deed

I was falling behind in payments so I called an investor to buy my house. We signed a deed, he said he will make up the back payments when he resells the house.

But the problem is he hasn't sold the house yet and another month went by. So now we're 3 months behind and the lender is filing foreclosure.

I drove by the house and didn't see any signs, so I don't know if the investor is even trying to sell the house.

I called him to let him know the bank is filing foreclosure, and he said he is willing to give the house back if I want or he can keep trying to sell it, he said he didn't record the deed to trustee.

I told him I want the house back and him out of it.

I have a few questions:

1. Can I sue him for not even trying to re-the house?

2. Can I sue him for not making payments?

3. His paperwork seemed to cover all his loose ends, we agreed that he will make up the payments only when he resells the house and that if he is unable to sell it, it could go to foreclosure. But he didn't make any payments.

4. I guess here is the big question, is there any kind of fraud here?

5. If I get the unrecorded deed (original) and tear it up, am I ok?

6. Should I get something in writing saying the deal is done


Asked on 3/21/07, 6:35 am

1 Answer from Attorneys
Scott R. Jay Law Offices of Scott R. Jay

Re: Investor Has my Deed

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

You have apparently made some poor decisions without the benefit of advice by a qualified real estate attorney. Now is the time to get smart by retaining an attorney to review all of your paperwork and advise you of the proper course of action.

In addition to receiving the return of the unrecorded original deed, I would think that a Quit Claim Deed from the "investor" would be a necessity. Other instruments might be required also but I am unable to give any real opinion without seeing all of the documentation regarding your transaction with the "investor".

You may have some recourse against this party, but I would strongly doubt he/she drafted documents that would protect you so your options for any recourse are probably limited, if any.

Scott R. Jay, Esq.

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Answered on 3/21/07, 10:24 am


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