Legal Question in Real Estate Law in Minnesota
Title work nightmare
This is a good one...My wife and I just built a house. The current ''owner'' had the construction loan in his name. Towards the completion of construction, my wife and I took a hit to our credit. To secure financing, we had my wifes parents buy the house and sell it to us on a CD. The house is complete and the financing is complete except for clear title. It seems the individual selling to us was never put on title when he bought it. The previous owners a refusing to sign neccessary docs to fix the problem. When the previous owners (who are still on title) bought the house, there was a quite claim originated to put their invesment partner on title with them. It was never recorded. Now to fix this issue, the title company needs to get the original owners to sign docs that puts the partner on title. There is a seperate issue with the orignal owners and thier investment partner which is going to court so they refuse to sign anything. Meanwhile, the person who should be on title is paying on a mortgage when he is not even on title, We can get into our home that we built. The builder's subs are waiting fo thier money. This is a mess. What can I do?
1 Answer from Attorneys
Re: Title work nightmare
You have two options and neither provide a magic panacea. You can negotiate a resolution. If you cannot negotiate a resolution, you can file a legal action seeking to quiet title.
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