Legal Question in Real Estate Law in Oregon

Real estate law

I purchased a home in Oct 05 on a land sale contract. I went to refinance the home in Apr 07 and payoff the person I purchased the home from. However, during this process I learned the previous owner put the home in a living trust. Now I cannot refinance, sell...do anything. Do I have a legal position to do anything about this?


Asked on 5/04/07, 1:24 pm

1 Answer from Attorneys
Susan Burns Law Office of Susan Ford Burns

Re: Real estate law

There is more to your problem that what is in your question. Just because the property was in a living trust does not mean that you cannot pay off the land sale contract with a new loan through your refinance.

Did you get title insurance when you purchased the property? If you did, then the title company should be able to assist you in clearing the title so the contract can be paid off.

The trustee of the living trust should be able to give you the deed needed when you refinance.

You should consult with a real estate attorney immediately to determine what is needed to allow the refinance.

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Answered on 5/07/07, 3:22 pm


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