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The amount of time it takes to get your deed of reconveyance varies by state and by lender. In general, however, it can take up to two months to receive after you’ve fully repaid the loan.
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A tax sale is the forced sale of property (usually real estate) by a governmental entity for unpaid taxes by the property's owner.. The sale, depending on the jurisdiction, may be a tax deed sale (whereby the actual property is sold) or a tax lien sale (whereby a lien on the property is sold) Under the tax lien sale process, depending on the jurisdiction, after a specified period of time if ...
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to both the borrower and the lender.
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan. [1] [2]
It's generally possible to transfer ownership of a house using a quitclaim deed or by preparing a new deed and filing it with the relevant authorities, with particular requirements varying by state.
However, as a result of the various state recording acts, the courts will protect a bona fide purchaser who pays valuable consideration and does not have knowledge of the prior unrecorded deed from the claims of a prior grantee under that deed. The same is true respecting most types of unrecorded liens or encumbrances.
However, if joint owners die at the same time, the account must go through probate like an individual account — which can take anywhere from 3 to 24 months. Dig deeper: Joint bank accounts: The ...