Lack Of Signature On Deed Of Trust
I just noticed a technical flaw on one of the foreclosing deeds of trust on a house I have an option to buy on. Only the wife signed it and it is said to be her separate estate on the DOT. However, she is married, has never had her husband quit claim the deed to her, and WA is a joint tenancy state.
Does this mean that this bank does not have full authority to sell this home at foreclosure? Will this just end up in a legal battle with the well funded bank's attorney crushing the debt stricken homeowner's? Does anyone have experience with this?
Thanks
--Aaron[ Edited by purdya on Date 06/30/2003 ]
If there is a lien the owners will still have to satisfy the loan, but it gets tricky with a flawed DOT. Consult your attorney about a possible "Deficiency Judgement" law suit aginst the lien holder if its applicable. Consult your attorney on th ebest way to handle it, BEFORE you let the mortgage company know that they have a non-perfected DOT.
Tim