Just taking the time to clarify a possible misunderstanding: When I wrote in the original Virtual Images messages indicating a local registry's indexing land recordings for public review, I was referring to copies of the original mortgage document and deed. Generally, if you're like most of us, you're carrying a mortgage. Now the mortgagee (lender) in order to secure their interest retains not only the mortgage (similar to your auto financier holding the vehicle's title until you satisfy the outstanding debt) but, within the entire document is a copy of the deed, and if defects are discovered it becomes impossible to pass clean title. Thus, the geek down the street can really put a damper on the miseries of property selling.
Not only do you have issues with selling your property, but now you have a very irritable banker, who, I might add, has a fiduciary duty to indemnify you against issues like remastered deeds.
The headaches are endless!
Monday, April 2, 2007
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