Bought 2 arces and a trailer on the prop.. (i had a realitor doing the offer and paperwork)
Deed to the land in in our name and recorded. (Had title insurance for that but not on the trailer)
Morgage company was in the process of getting the first lien off the prop. This was a lien that the second company paid off when he remorgaged. Was told it just wasn't released?
They had already sent off the paperwork, but it would take 1-3 months to get it back and then transfer to me..
Thats where i made my mistake. (first time home buyer) i didn't put it off.. and went ahead with the closing.
so the land deed and all is good, just the trailer title is not mine yet, and i can't pay taxes or get the sticker without it i was told.
So, if the lien was taken off by the first company and its in the morgage companys name that i bought it from, do i just call them about getting it transfered into my name? Or should i call them to ask if its in thier name? (They gave me a quit claim bill of sale on the trailer already)
Liz, Thanks i'll give you a call monday or tuesday!
A quit claim certainly is valid if the person giving it has anything to give. I could give you a quit claim deed to the Statue of Liberty. It would be entirely valid, legal, and enforceable. Problem is, I don't own the Statue of Liberty. So that quit claim deed would be worthless. On the other hand, if I gave you a quit claim deed to my personal house, you'd now be the owner of my house.
And from your other questions, you're way in over your head. Again, I'm not a lawyer, but you record the deed, just as you would a general warranty deed. From what you're describing, the mortgage company is totally out of the picture. Ownership went from previous owner to mortgage company to second company to you. You get title in your name by making sure you've got the correct documents and filing them.
You say the only one you talked to was the lawyer representing the second company, from whom you bought the property. Hate to break this to you, but that lawyer was representing the other side. Not you. You didn't have any representation? In any case, that lawyer's correct. He was representing the second company. The transaction was completed. He has no further role and certainly no relationship with you.
Right now, you're just twisting slowly in the wind. Possibly, everything was above board. Like I said, removing that lien, if it was really paid, shouldn't be too much of a problem. If the second company owned it, the quit claim deed should pass ownership to you. But you desperately need an expert to sort through all of that and to protect your interests.