Posted on: 24th Aug, 2009 05:03 pm
Home was purchased 3 years ago and substantial down payment made. No title search was done. Bought in "as is" condition. Have paid nearly 50% of purchase price to "seller". Improvements made appraise at approx 1/3 of purchase price. Now we find that persons to whom we have been paying the mortgage are, in fact, not the true owners. It is a family switch-a-roo with property changing hands from one to another according to court records. Now the person who is listed as owner is trying to take our home. Detailed records have been kept and "mortgage pmt with amt due and address in "for" line of each check given for payment. What are our rights. One company suggested using squatters rights because of the extensive upgrades and improvements done to the home. However, I am not sure that this situation would apply. Thanks
Aaron Aaron
Welcoem to the forum
It is sad that you did not dod the due deligence before you bought the proprty
At this point you need a attorney to prove this in the curt
Good luck and feel free to ask
Welcoem to the forum
It is sad that you did not dod the due deligence before you bought the proprty
At this point you need a attorney to prove this in the curt
Good luck and feel free to ask
Hi Aaron,
I don't think you can use your squatter's rights in this situation. As far as I know, if you have been using a piece of real estate property for a long period of time, you can have a right to it, even though you do not have the title in your name. The number of years that the borrower needs to stay in the property depends on your state laws. But generally, it requires you to occupy it for about 12-15 years uninterruptedly.
You have paid a down payment and paid off almost 50% of purchase price. You cannot just let it be as it. If the 'seller' was at fault, you must look for compensation. You must contact a real estate lawyer and discuss you options in this situation. He is the best person to help you in this situation.
I don't think you can use your squatter's rights in this situation. As far as I know, if you have been using a piece of real estate property for a long period of time, you can have a right to it, even though you do not have the title in your name. The number of years that the borrower needs to stay in the property depends on your state laws. But generally, it requires you to occupy it for about 12-15 years uninterruptedly.
You have paid a down payment and paid off almost 50% of purchase price. You cannot just let it be as it. If the 'seller' was at fault, you must look for compensation. You must contact a real estate lawyer and discuss you options in this situation. He is the best person to help you in this situation.
thank you very much geni for your notation of the lack of due diligence.
it seems people want to do business "their way" instead of engaging an attorney who can ensure that they're not getting "hosed" by a perpetrator of fraud.
squatter's rights...do they even exist in real life any longer?
aaron, both of the above posters have directed you to an attorney to determine what can be done for you in this situation. please take their advice (and mine) and go get legal counsel so you can try to fight your way out of this mess.
it seems people want to do business "their way" instead of engaging an attorney who can ensure that they're not getting "hosed" by a perpetrator of fraud.
squatter's rights...do they even exist in real life any longer?
aaron, both of the above posters have directed you to an attorney to determine what can be done for you in this situation. please take their advice (and mine) and go get legal counsel so you can try to fight your way out of this mess.
