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  1. #1

    Default House Sitting On Two Lots

    I have a perplexing situation.

    Home sits on 2 seperate lots.

    I have a piece of property from my parents estate that I purchased from my parents.

    The guardian of their estate handed the mortgage my parents had on their home and one of the lots that the home sits on.

    However the lot that I purchased was bought seperate from the mortgage on a seperate contract, and part of the home sits on this lot.

    The home can not be sold due to their being 2 lots and 2 different owners of the lots that the home sits on.

    I have been trying to work with the mortgage company, but they seem to be avoiding me.

    Everytime I have called I get transferred to another rep who has no clue what to do.

    I have been in contact with their foreclosure dept with the same result

    Its a really long story but the home has been allowed to sit empty for 2 years and is in need of repairs.

    What can I do.

    I told them in June that I was charging them $1,000.00 per day that their home sits on my lot, but still no reply, recently I told tham again that on the 19 of August all the mortgage payoff will be eaten up by the lot rent...
    What can i do?

    And I also told them that on August 30th I will be placing a lien on the other lot and the home..I need suggestions.

  2. #2

    Default Re: Real Estate Question

    The house is on two lots. You caused the problem by buying one of the lots knowing the property was actually one parcel. This is your problem, not the mortgage company. Either transfer the lot back to your parents or have them transfer their lot to you along with responsibility for the mortgage. Then you can sell or whatever.

  3. #3

    Default Re: Real Estate Question

    Quote Quoting lwpat
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    The house is on two lots. You caused the problem by buying one of the lots knowing the property was actually one parcel. This is your problem, not the mortgage company. Either transfer the lot back to your parents or have them transfer their lot to you along with responsibility for the mortgage. Then you can sell or whatever.


    You missed the point completely......

  4. #4
    Join Date
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    Default Re: Real Estate Question

    Perhaps, then, you could explain the situation more clearly.

  5. #5

    Default Re: Real Estate Question

    lot 173 in my name was purchased seperately from mortgage on contract.

    Guardian of estate handed the mortgage on home and lot 174 back to mortgage company.

    173 was never part of the mortgage even though 1/3 of the home sits on lot 173.
    173 contains 4 car garage 2 mini barns and driveway.

    Home can not be sold due to the home being on 2 lots and having 2 owners.

  6. #6
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    Default Re: Real Estate Question

    Rather than making rent demands which no bank would pay and no court would enforce, why not acquire lot 174? From what you say, nobody in their right mind would buy it, so you should be able to get a good price.

  7. #7
    Join Date
    Jul 2006
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    5,438

    Default Re: Real Estate Question

    Quote Quoting fortmyerscrazy
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    lot 173 in my name was purchased seperately from mortgage on contract.

    Guardian of estate handed the mortgage on home and lot 174 back to mortgage company.

    173 was never part of the mortgage even though 1/3 of the home sits on lot 173.
    173 contains 4 car garage 2 mini barns and driveway.

    Home can not be sold due to the home being on 2 lots and having 2 owners.
    Your clarification leaves me puzzled.

    Who owns lot 173 (i.e., whose name is on the vesting deed)?

    Who owns lot 174 (i.e., whose name is on the vesting deed)?

    What do you mean by "handed the mortgage"?



    By the way, before you do anything, have a title report run by a local title company on both lots; that will tell you a lot.

  8. #8

    Default Re: Real Estate Question

    lot 173 was purchased on a seperate contract, after the mortgage was taken out on lot 174 and the home, and lot 173 has my name on deed, so it was never part of the original mortgage.

    Lot 174 and home was given to mortgage company for $10.00 to relieve my parents of the mortgage, and the mortgage companies name is on that deed.

    However what they did not realize is that the home sits on 2 lots.

    1/3 of the home sits on lot 173, along with the driveway a 4 car garage and 2 mini barns, so its considered an improved lot.

  9. #9
    Join Date
    Jul 2006
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    Default Re: Real Estate Question

    Quote Quoting fortmyerscrazy
    View Post
    lot 173 was purchased on a seperate contract, after the mortgage was taken out on lot 174 and the home, and lot 173 has my name on deed, so it was never part of the original mortgage.

    Lot 174 and home was given to mortgage company for $10.00 to relieve my parents of the mortgage, and the mortgage companies name is on that deed.

    However what they did not realize is that the home sits on 2 lots.

    1/3 of the home sits on lot 173, along with the driveway a 4 car garage and 2 mini barns, so its considered an improved lot.
    A mortgage (sometimes they are called deeds of trust) is not a true conveyance of real estate.

    But what I am hearing you say is that there are two lots; the mortgage company owns one and you own the other.

    If you want to own all of it, then you will have to buy.

    Get that title report....

  10. #10
    Join Date
    Aug 2006
    Location
    Oklahoma
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    21

    Default Re: Real Estate Question

    I am not sure how big your lot is but have you ever thought to have your lot surveyed down so that it no longer includes the home. I know it would stink to have to give something away but then you could deed the part of the lot with the house over to the mortgage company. Then at least you could sell your lot if you ever wanted to. As it is now you have an undesirable piece of land that is of no value if you wanted to sell.

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