Property Foreclosure Rights Explained

Summary

In Louisiana, if you purchased a property from someone without a clear title due to an unopened succession, the mortgage company may still have a valid claim. As a bona fide purchaser, you might have rights if you bought the property without knowledge of the mortgage. Placing a lien is typically reserved for contractors and suppliers, not homeowners. Consider checking for title insurance and verifying if the mortgage was properly recorded. Consulting a local attorney could provide specific legal advice, but you can also challenge the mortgage company yourself.

Full Conversation

hello i purchased a home cash for $103K and put $75k into the home for renovations. the home was purchased in * from a person who purchased it in an unopened succession. fast forward i now have the previous owners mortgage company claimin the mortgage has not been pain and is now being forclosed on. Currently the house has been seized by the city. do i have any rights being that i have a title with my name on it? Can i place a lein on the property before it goes to auction?
Hey ****, that sounds like a really tough situation. Here are a few steps and considerations:
- In Louisiana, if the property was bought from someone without clear title due to an unopened succession, the mortgage company may still have a valid claim.
- You might have rights as a "bona fide purchaser" if you bought without knowledge of the mortgage.
- Placing a lien on the property might not be possible since you are not a creditor.
It might be best to consult a local attorney. Would you like help finding one?
i cant place a lein even though i made repairs and put in labor?
In Louisiana, placing a lien is typically reserved for contractors, laborers, and suppliers who have not been paid for their work or materials. Since you are the homeowner and not a creditor, it may be more challenging. You might want to consider consulting an attorney to explore other legal options.
Would you like help finding a local attorney who can assist you further?
please tell me more about bona fide purchaser
Case Rating: *
A "bona fide purchaser" (BFP) is someone who buys property without notice of any other party's claim to the title of that property and pays a full and fair price. Here are some key points:
- In Louisiana, a BFP acquires rights to the property free from any claims or liens that were not recorded at the time of purchase.
- The BFP must act in good faith and without knowledge of any defects in title.
- If a BFP status is proven, you may have a strong defense against the mortgage company's claims.
Would you like to be connected to local lawyers who can better assist you with your case?
no i want to attempt to challange the mortgage company myself
Case Rating: *
Got it, ****. Here are a few additional points to consider for your situation:
- Title Insurance: Check if you have title insurance; it could cover legal fees and losses.
- Public Records: Verify if the mortgage was recorded properly.
- Legal Advice: Consider a brief consultation with an attorney for specific legal advice.
Good luck with your challenge!