Legal Question in Real Estate Law in Georgia

Property Liens

We just found out there was a lien for an unpaid debt (LOC) against our property belonging to the previous owners. The title company ''overlooked'' the debt and now it appears as if the bank will try to foreclose on our home. The debt does not belong to us and we are in good standing with our mortgage company. What are our options? Are we ultimately responsible for someone else's debt? Should I hire an attorney or wait until we hear what the Title Examiner's office has to say? Please help.


Asked on 5/01/08, 7:42 pm

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Property Liens

You leave out a few details, such as who is the beneficiary of the title policy. If it is the Bank, not you, you have a big problem. Additionally, you do not say what you mean by "it appears as if the bank will try to foreclose." That could mean anything from rumor to your house being foreclosed on next Tuesday. If the latter, assume you need a lawyer first thing tomorrow morning.

Read more
Answered on 5/01/08, 8:32 pm
SHERRY RAGOLE RAGOLE & ASSOCIATES, LLC

Re: Property Liens

You should gather every piece of paper that you have related to your closing, including the sales contract and the package of paperwork that you received from the real estate closing and arrange for a consultation with an attorney. Friday is a busy day for real estate attorneys. I will make space on my calendar to meet with you, if you call me as early as possible tomorrow.

Read more
Answered on 5/01/08, 9:45 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Georgia