Legal Question in Real Estate Law in Oregon

investor money handled badly by broker

I invested $200k with a broker and was suppose to be one of four people put on a first trust deed. I received 3 interest payments before finding out the loan went bad. Turns out he never sent me the paperwork to sign and he failed to put me on the deed. Is he obligated to send me my money back if I ask for it? What can I do to make this happen?


Asked on 8/20/08, 10:16 pm

1 Answer from Attorneys
Daniel Meek Daniel W. Meek

Re: investor money handled badly by broker

He is not obligated to send you your money back. He was obligated to put you on the first trust deed. Since he did not, I assume that the property was foreclosed and is now owned by a bank or some other entity. You now can sue the broker for the damages you have suffered from losing your interest in the property. It would be enormously helpful if you had your agreement with the broker in writing.

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Answered on 8/21/08, 5:17 pm


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