Looking for a Freeper with Knowledge of Real Estate Law

Self | 12/26/12 | Alberta's Child

[Alberta's Child]

I'm looking for some help from anyone on FR who has some knowledge about commercial real estate, priorities of liens, and other similar matters. I'm dealing with a strange situation where I've come across a lien that appears to have been filed in error, and before I proceed with any legal action I just need some general insight on how the process works and how other lienholders may be involved (or not).

[oh8eleven]

I once asked a question about septic tanks, and was quite gratified with the information I got.
Even the ones who told you to format the hard drive and reload Windows?

[wtc911]

Ok, it is amusing and occassionally informative to read through...as long as it is taken for what it is.

[wtc911]

I once asked a question about septic tanks, and was quite gratified with the information I got.

______________________________________

Well, septic tanks and lawyers...

[nothingnew]

As far as I know, you can't "own" property here. You can work it, pay your mortgage, pay taxes on it or if already paid for, you pay taxes on it. You don't really "own" it, the government does.

FMCDH(BITS)

[kaehurowing]

Condo liens are nothing to mess around with. In my state, condo associations have great powers (more than lenders in many ways), and they can basically come in and do a private foreclosure sale of your property in 30-60 days if you don’t pay the lien. What happens generally is that folks don’t bid at the sale so the Association gets the property, and you the owner get nothing. The mortgage lender still has a priority that is not wiped out by the Association’s foreclosure, so the Association’s interest is subject to the lender’s lien, but the Association doesn’t care. They know it can take a year to two years for the lender to be able to foreclose, and in the meantime the Association rents out the unit on a short-term rental basis and makes money until the lender then takes the property back or sells to another person.

[abclily]

The lien has been placed on the property by the condominium association?

[chris_bdba]

RE law is a state to state thing so you will need someone in your state who knows the law there.

[Alberta's Child]

I just wanted to post an update on this, folks. Some interesting twists and turns on this one.

Within less than a month of filing the foreclosure papers, the lawyer for the plaintiff was backpedaling and trying to get the defendant to sign off on a stipulation of dismissal. Apparently he figured out that there was no way the plaintiff was ever going to recover the legal fees that they'd be entitled to under state law.

Rather than sign the stipulation of dismissal, the defendants had their lawyer initiate a full discovery process. Subpoenas have been served on the accounting firms that have been doing the accounting work for the condominium association for the last decade.

I think the defendant has uncovered something interesting here, eh?

[Focault's Pendulum]

Even the ones who told you to format the hard drive and reload Windows?

Well, that pretty much was the right answer.

[Alberta's Child]

Very interesting case has unfolded here over the last 14 months, folks.

The plaintiff's attorney has informed the judge and the defendant's attorney that he has retained his own legal representation in this case.

Can anybody guess what this means? This has to be a case for the law journals. LOL.

I think there may be a possible criminal investigation here.

[morphing libertarian]

each state has laws about when an HOA can place a lien and some allow he hoa to feel the property to satisfy the lien.

I suggest youn cart with a title company to verify the men and priority etc.

If the men is under a certain amount it may be within the scope of small claims court in your state. No lawyers allowed in small claims but you can consult one and go in on your own.

We settled some hoa liens for 50-66.7% and avoided court.

If the claim exceeds the small claim limit you need a re lawyer.

[morphing libertarian]

start with a title company

I love auto text

[morphing libertarian]

sell the property not feel

[Black Agnes]

If you’re dealing with NJ condo associations all I can do is offer a chicken and some candles. You’ll have to hire the voodoo chanting from someone experienced in that.

[PAR35]

Now that is interesting. A lot of possibilities there, none of them particularly good for either the lawyer or his (or to be politically correct (or her))client.

At the very least, if the lawyer is having to hire independent counsel, it probably means that he/she isn’t going to be making any money on the case, unless his own client has filed a malpractice complaint and his insurer is paying for the lawyer’s lawyer. And in that case, the original lawyer is going to withdraw from the case.

[Mamzelle]

Oh, I love when a lawyer gets into hot water!! Lawyer soup!!! please keep us updated.