interesting question for you legal minds

[ducati74]

What is the name of your state? Kern county, CA
some friends (man/wife) purchased some "backwoods/off the grid" property back in the hills a few years ago. they purchased 110 acres in total. due to paperwork/admin issues the owners sold the land as 2 seperate plots( 100 acres bare land and 10 acres with house)..

the couple payed cash for the 110 acres(got a steal on it) and got a mortgage on the 10 acres with the house. well this couple is not the smartest/most responsible type and after a year they came to believe that in their research they discovered that the house actually sits on the 100 acre plot.
their research of tittle/ property description & old surveys made them feel so positive of this that they quit paying their mortgage and told the bank to forclose on the 10 acres plot since think it is "bare land" anyway. (granted they do have some lawyer working on this)...

well the bank did foreclose and sold the 10 acre plot on courthouse steps. obviousley the new buyer put the 3-day notice on their door, yet they are in denial and just told the new owner to talk to their lawyer, assuming they are going to win the case.

do these kind of mistakes happen much?

how long do you think they have until they are kicked out?

 

[HomeGuru]

What is the name of your state? Kern county, CA
some friends (man/wife) purchased some "backwoods/off the grid" property back in the hills a few years ago. they purchased 110 acres in total. due to paperwork/admin issues the owners sold the land as 2 seperate plots( 100 acres bare land and 10 acres with house)..

the couple payed cash for the 110 acres(got a steal on it) and got a mortgage on the 10 acres with the house. well this couple is not the smartest/most responsible type and after a year they came to believe that in their research they discovered that the house actually sits on the 100 acre plot.
their research of tittle/ property description & old surveys made them feel so positive of this that they quit paying their mortgage and told the bank to forclose on the 10 acres plot since think it is "bare land" anyway. (granted they do have some lawyer working on this)...

well the bank did foreclose and sold the 10 acre plot on courthouse steps. obviousley the new buyer put the 3-day notice on their door, yet they are in denial and just told the new owner to talk to their lawyer, assuming they are going to win the case.

do these kind of mistakes happen much?

**A: yes, because there are more than 2 idiots that live in the US.
*******

how long do you think they have until they are kicked out?

**A: have no idea. The foreclosure Trustee would know.

 

[ducati74]

thanks HOMEGURU..I don't think they would listen to an answer anyway, but I figured it was worth asking about. Guess we will find out in a few weeks/months..

 

[seniorjudge]

What is the name of your state? Kern county, CA
some friends (man/wife) purchased some "backwoods/off the grid" property back in the hills a few years ago. they purchased 110 acres in total. due to paperwork/admin issues the owners sold the land as 2 seperate plots( 100 acres bare land and 10 acres with house)..

the couple payed cash for the 110 acres(got a steal on it) and got a mortgage on the 10 acres with the house. well this couple is not the smartest/most responsible type and after a year they came to believe that in their research they discovered that the house actually sits on the 100 acre plot.
their research of tittle/ property description & old surveys made them feel so positive of this that they quit paying their mortgage and told the bank to forclose on the 10 acres plot since think it is "bare land" anyway. (granted they do have some lawyer working on this)...

well the bank did foreclose and sold the 10 acre plot on courthouse steps. obviousley the new buyer put the 3-day notice on their door, yet they are in denial and just told the new owner to talk to their lawyer, assuming they are going to win the case.

do these kind of mistakes happen much?

how long do you think they have until they are kicked out?

Q: do these kind of mistakes happen much?

A: Yes.



Q: how long do you think they have until they are kicked out?

A: Soon. Very soon.

 

[HomeGuru]

thanks HOMEGURU..I don't think they would listen to an answer anyway, but I figured it was worth asking about. Guess we will find out in a few weeks/months..

**A: when you see them, tell them that they screwed themselves big time.