Home Selling in 08610>Question Details

Stuckinnj, Home Seller in 08610

i am short selling a mortgaged property with building code violation in NJ.

Asked by Stuckinnj, 08610 Wed Mar 28, 2012

What happens to the fine that was imposed by the court upon transfer of title? Goes with the property or sticks to me personally?

Help the community by answering this question:

Answers

5
Even if they travel with the property, you can rest assured that the Buyer is not interested in paying your fines, unless it is a really good deal for them. Deal with it up front wit hthe Buyer and the Buyes's Attorney.
0 votes Thank Flag Link Thu Mar 29, 2012
This is a legal question so you should seek council from an attorney. My experience has shown me that such a fine is usually made out to you personally, so you would still be responsible for clearing it. If it is a judgment against you then it's attached to the property and would be paid at closing to clear title prior to the sale of the property.
0 votes Thank Flag Link Thu Mar 29, 2012
Should get resolved and cleared before you close with Attorney's help.
0 votes Thank Flag Link Thu Mar 29, 2012
I agreed with Suzanne, you need an Attorney in this case. As for the Fines, those are your responsibility. Take care of them 1st, and everything eles will follow. Buyers are looking for good deals not headaches. Elba Adorno, Resltor, PFR, Hamilton, NJ
0 votes Thank Flag Link Thu Mar 29, 2012
Are you using an attorney for the closing? You should be. The bank usually pays the attorney. I know tax liens have to be paid. In fact, all liens will have to be satisfied prior to closing somehow. Fines imposed by a court may be treated differently. I suspect this question is so specific that only an attorney will be able to provide you with an answer.
0 votes Thank Flag Link Wed Mar 28, 2012
This is stuckinnj adding additonal information.

no attorney. no forclosure action filed by the lender despite over 9 months behind on mortgage payments. There are no tax liens or any other liens on the property but back taxes are due. Just the 1st mortgage to my knowledge.

It is an unsafe structure violation where the judge has fined me as the owner in a court trial despite there being financial distress as my reason for my inability to rectify the unsafe condition. Now that I have it sold with a closing scheduled I need to find out if the fine stays with the property or remains on me personally. I have a request into the city to find out what their intentions are but no answer yet. They just wanted it demolished and gone.

the main reason I am at this point is that the lender's BPO was grossly erroneous to the point that the wrong property was BPO'd with a value of triple what my property sold for. I contested the BPO after servicer/lender denied the short sale payoff based on the erroneous BPO. However this was too late to present in court and I was fined. If they had the correct BPO value prior to the trial, the short sale payoff would have been approved prior to the trial and I could have presented this at the trial and possibly not been assessed the fine since the property was sold as is to the purchaser. The servicer's gross error in the BPO caused this mess.
Flag Wed Mar 28, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer