Re: OPTIONS AFTER FORECLOSURE?

Posted by Jim V on October 19, 2002 at 01:46:50:

In Reply to: Re: OPTIONS AFTER FORECLOSURE? posted by Sam on October 18, 2002 at 22:58:27:

Until the third party purchaser obtains and records a Trustee's Deed, there will be no transfer at the county recorder's office. Getting the Trustee's Deed should only take 1-2 weeks from the date of the sale.

Filing post-sale BK in CA will probably be a waste of time on your part. CA has no redemption period, once the sale happens, that's pretty much it unless there were procedural problems with the sale. Probably not what you'd like to hear, but that's the way it works.

Only possible way I see to possibly obtain a bit more time is to fight the validity of the original three day notice. If the third party purchaser was not the "legal" owner, per public records, at the time the notice was served, their current unlawful detainer action, based on that notice, is probably invalid. I'd expect that the third party purchaser will probably serve a new three day notice shortly after they record their Trustee's Deed.

Sorry I couldn't provide something a little more upbeat, but that's the way it works.

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Comments:
: Until the third party purchaser obtains and records a Trustee's Deed, there will be no transfer at the county recorder's office.  Getting the Trustee's Deed should only take 1-2 weeks from the date of the sale.  

: Filing post-sale BK in CA will probably be a waste of time on your part.  CA has no redemption period, once the sale happens, that's pretty much it unless there were procedural problems with the sale.  Probably not what you'd like to hear, but that's the way it works.

: Only possible way I see to possibly obtain a bit more time is to fight the validity of the original three day notice.  If the third party purchaser was not the "legal" owner, per public records, at the time the notice was served, their current unlawful detainer action, based on that notice, is probably invalid.  I'd expect that the third party purchaser will probably serve a new three day notice shortly after they record their Trustee's Deed.

: Sorry I couldn't provide something a little more upbeat, but that's the way it works. 


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