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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Trustee Sale from hell! Posted by Travis, the Judgment Guy on December 28, 2007 at 9:02 PM In Reply to: Trustee Sale from hell! posted by Reg Boutet on December 27, 2007 at 10:23 AM Title companies have fancy bells and whistles to help them cut corners when researching title. As Ward will teach you in his training, real property records at the county recorder are indexed by party name in the grantor / grantee index. They are not indexed by APN, Legal Description, Lien Amount, etc. Title companies obtain their information primarily from title plants which create a duplicate computerized searchable database of the information in the recorder’s office. This allows the title companies to cut corners by running searches by legal description, apn, ssn, etc. Had you searched by NAME in the recorder’s office, you would have likely identified the surprise trust deed. The title company probably just searched the legal description to save time over matching grantor/grantee names. This is of course a bit more risky but they can afford it and it saves them money over the long run by eliminating a tremendous amount of man hours analyzing title chains. Now, if I was in your shoes, and if I had a high powered attorney (do they really exist?) I’d want to research the validity of a trust deed with an incorrect legal description. I would want to attack the validity of the trust deed to either eliminate it, or clobber the lender with litigation and attempt to settle for a lesser amount than the face value. I don’t know if you stand much of a chance, but it’s worth looking into. My guess is the lender will be equitably subrogated to its claim regardless of the flawed trust deed. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Title companies have fancy bells and whistles to help them cut corners when researching title. As Ward will teach you in his training, real property records at the county recorder are indexed by party name in the grantor / grantee index. They are not indexed by APN, Legal Description, Lien Amount, etc. Title companies obtain their information primarily from title plants which create a duplicate computerized searchable database of the information in the recorder’s office. This allows the title companies to cut corners by running searches by legal description, apn, ssn, etc. : Had you searched by NAME in the recorder’s office, you would have likely identified the surprise trust deed. The title company probably just searched the legal description to save time over matching grantor/grantee names. This is of course a bit more risky but they can afford it and it saves them money over the long run by eliminating a tremendous amount of man hours analyzing title chains. : Now, if I was in your shoes, and if I had a high powered attorney (do they really exist?) I’d want to research the validity of a trust deed with an incorrect legal description. I would want to attack the validity of the trust deed to either eliminate it, or clobber the lender with litigation and attempt to settle for a lesser amount than the face value. I don’t know if you stand much of a chance, but it’s worth looking into. My guess is the lender will be equitably subrogated to its claim regardless of the flawed trust deed. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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