why didn't they do anything when i changed the deed ? and what will they do when i die ?
Answers: The lien is against the property, not basically you. It will stay on there until settled.
Your daughter could christen and see if they will take smaller number, or just confer on it there until she sell.
If an abstract search be not completed in conjunction near the deed, afterwards this is not suprising. You mention why didn't they do anything, who is they? Did you have an attorney do the work for you? If you did, I would ask them why they did not complete a search? If they did, next their abstractor may have missed the lien. The lien will stay on the property until it is content, it may fall bad, but that can take anywhere from 40-60 years depending on state law, and if your daughter refi, she would have to most expected get it delighted before proceeding. Also, some lenders do not similar to life use or go estates on deeds. I would not be suprised that when your daughter goes to refi, she is asked to complete a action taking you out of the life use. It is a lender by lender ruling, but I know of one major us lender that will not refi her as it stands did you hold a title search done up to that time you deeded to your daughter? If so just because you enjoy a life estate consequently there is nil they can do. If not, then upon your destruction then the lien will hold to be satisfied but for sooner. It may be a lien that was never released. Have a title rummage through done by a title company to find out. It is a common oversight by some lenders.
Resolved Questions:
Need warning for renting and nonworking garage?
What cause an escrow shortage on your mortgage?
Apartment Hunterz contained by Mountain View, Ca?
Who should deliever eviction see?
Can i refinance my mortgage near a low 450 fico ranking.own equity and want to consolidate some bills?
Answers: The lien is against the property, not basically you. It will stay on there until settled.
Your daughter could christen and see if they will take smaller number, or just confer on it there until she sell.
If an abstract search be not completed in conjunction near the deed, afterwards this is not suprising. You mention why didn't they do anything, who is they? Did you have an attorney do the work for you? If you did, I would ask them why they did not complete a search? If they did, next their abstractor may have missed the lien. The lien will stay on the property until it is content, it may fall bad, but that can take anywhere from 40-60 years depending on state law, and if your daughter refi, she would have to most expected get it delighted before proceeding. Also, some lenders do not similar to life use or go estates on deeds. I would not be suprised that when your daughter goes to refi, she is asked to complete a action taking you out of the life use. It is a lender by lender ruling, but I know of one major us lender that will not refi her as it stands did you hold a title search done up to that time you deeded to your daughter? If so just because you enjoy a life estate consequently there is nil they can do. If not, then upon your destruction then the lien will hold to be satisfied but for sooner. It may be a lien that was never released. Have a title rummage through done by a title company to find out. It is a common oversight by some lenders.
Resolved Questions: