weird situation - REO Property Preservation Forum
 
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post #1 of 4 (permalink) Old 03-19-2015, 10:59 PM Thread Starter
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weird situation

So one of the realtors we work for asked us to do a trash out etc on a Freddie Mac property he has. We get there and its
a regular house with a detached garage.. a semi decent wood deck off the kitchen and a concrete patio off the master bedroom with a walkway to the garage and the drive goes past that concrete patio to the garage.
There is about 35-40 yards in the house and garage and a 10
yard burn pile in the corner behind the garage.

An hour in and my guys are about done with the house and the girls are starting the clean and the guys are about to start the garage when the former HO drives up with the sheriff and starts SCREAMING that we are stealing her stuff.. The realtor happened to be there as we were going to go bid a few other things for him and it turns out that its actually 2 parcels of land and she had quit claimed the 2nd parcel to her in-laws just prior to the bank taking it over.
now what got me is that its the back half of the lot....

the rear half of the wood deck...
the rear half of the concrete patio
a 3 foot apron in front of the garage... the garage itself and the strip behind it........
The HO was going off on the realtor...
I did the only thing I could think of to do...
My guys unloaded the trailer into the living room...We took a TON of pics of her stuff going back in the house.. Locked up and left.

The realtor is calling everyone he can at Freddie Mac and no one can figure out a thing..
Ill see if I can post a pic of the parcels I pulled off the county website.
methinks the HO pulled something shady to save some $$ from the property but Freddie has some splaining to do...
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post #2 of 4 (permalink) Old 03-19-2015, 11:07 PM
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Sounds like a divorce settlement

where the parcel got split and one party went into foreclosure. I had a property like that, but all I did was cut too much grass.
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post #3 of 4 (permalink) Old 03-20-2015, 05:44 AM
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Specifically regarding your situation, you should submit an invoice for your work immediately. It sounds like from your description that the debris you removed was only from the front parcel. Before pics would have confirmed that. If you have written authorization to do the work from the lender or their agents, you are entitled to compensation.

As to the dispute over the property, it may depend on what parcel(s)the lender has filed claim against. If there are actually two parcel numbers, and only one is held as collateral by the mortgager, then the in laws may have "rights" to possession of the rear parcel. However, a quit claim deed has to be filed with the county recorder so there is a verifiable trail. And just because the previous owner signed ownership over to someone else does not relieve them of the duty to payoff debts on the land. Tom can't buy a new truck and then sign it over to Dick, telling the finance company it is their problem now. Banks are not bound by quit claims; they are bound by the money owed.
This is what title companies are for, why there is title insurance and why the term "due diligence" is important.
I've run into your situation numerous times. I have witnessed lenders having to buy puzzle piece parcels in order to make the property whole. Investors buying the driveway and garage but not the house, then waiting for the bank to come to them.
I saw a large pole barn dealer arrive on a previously foreclosed 12 acre parcel once and with a court order remove a 40x70 outbuilding while the new owner hurriedly removed his personals.
The lady may rightly own that piece of property and this is her way of sticking it to the bank or she could simply have been bsing everyone, including herself, and was trespassing.
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post #4 of 4 (permalink) Old 03-20-2015, 09:25 AM
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We have had that happen several times and every time it resulted in a theft claim.
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