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Releasing a lien from previous owner

I acquired a home through a quit claim deed prior to the owner passing away. She had a HELOC and it was written off from what I'm being told. They never tried to collect. I'm trying to borrow money and found out through the title company there's a lien on the property. I contacted the bank to inquire and also offer a small settlement to clear the title. They are supposed to have someone contact me. Any suggestions as to best way to get this lien released? by Stepht1105662 from , California. Dec 14th 2017 Reply


Dr. Shab Kavandi (skavandi)
#469 ranked lender in California - 53 contributions

If the HELOC was under the owners name and she passed always, you are not responsible for the HELOC. Title company needs to clear the cloud there. However it is not a simple and strait forward procedures. You can call me at 714 639 6694 for more detail. Best of luck,Shab Kavandi

Dec 14th 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,455 contributions

More info needed, but based on the limited info you provided, it's really a question for an attorney.. When someone dies, and they didn't have a will or trust, then their estate goes into probate. During this window, anyone the deceased owed can put in a claim against her estate.. California probate lasts up to 18 months, but it can be extended.. Other states vary.. But because the lien was secured by real property, its possible the lien will need to be satisfied.. Keep in mind that when a lender writes off a debt, it doesn't mean they filed a release against the property.. it just means that the debt has not paid, so they are writing it off as a loss.. they can still hold a claim against the property.. If you purchased the home or inherited it or, it was simply transferred to you.. then you have a due diligence responsibility to be sure it's come to you unencumbered.. All real estate loans have "due on sale" clauses in them.. if the home was deeded to you, then the remaining balance becomes due and payable upon transfer.. again.. the lender can still have a claim against this property.. You should definitely sit down with a qualified real estate lawyer familiar with the laws in the state the property resides in, and be sure to bring all your documents regarding the property.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Dec 14th 2017
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