Posted by John Merchant on December 13, 2004 at 20:54:26:
Keith, thanks, I’m glad to be made aware of the CCC on this.
15 days to record deed - Posted by Cindy
Posted by Cindy on December 12, 2004 at 07:36:16:
I recently purchased a home at auction. The trustee finally sent us the deed and we are recording on Monday. I just recently learned that you have to get your deed recorded withing 15 days after the auction. What happens if it takes longer? These trustees are slow sometimes. Is it 15 business days? Thanks for your help.
Re: 15 days to record deed - Posted by Natalie Smith
Posted by Natalie Smith on December 12, 2004 at 18:12:13:
Is it possible that they meant you have 15 days to get the trustee the money so that they can give you the deed?
I’m not an attorney, but I do buy foreclosures in Virginia. Usually, they give us 15 days to give them the money. Then they turn over the deed.
Re: 15 days to record deed - Posted by John Merchant
Posted by John Merchant on December 12, 2004 at 11:43:11:
Recording laws are state specific, so what state is involved here?
FYI, I recently had a RE situation where a Deed was recorded several years after its execution and delivery, and no problem recording it…and it was not the business or concern of the recorder if or when it was recorded. Their job is functional, just to take the docs over the counter or through the mail and record and return.
Re: 15 days to record deed - Posted by Cindy
Posted by Cindy on December 12, 2004 at 13:37:05:
Sorry if this posts twice. Computer is acting up.
I’m in California. I won a home at auction on 11/29 and we’re in the process of evicting difficult tenants. While I was looking up the tax bill I decided to run the defaulting owner’s name again in the county records site. He signed property over to someone who recorded on 11/30. The timing made me nervous. I thought he may have made a last minute deal and there’s now another party who thinks they own the home. The online system only shows you an index, so I won’t know more until I walk into the recorder’s office on Monday. I don’t remember him having any other property when I performed my original search before the sale. We finally received the deed from the trustee on 12/10. If I count the sale date, we will be recording on exactly the 15th day. Too close for comfort. What COULD possibly happen if you record later than 15 days. Thanks so much for your help.
Cindy
Re: 15 days to record deed - Posted by John Merchant
Posted by John Merchant on December 12, 2004 at 14:36:51:
I’d think your title is safe enough as, if you bought at foreclosure auction, the foreclosing trustee would have ordered a title policy so as to give legal notice to ALL parties on title…and once that was done, and everybody with any interest got the notice, any later comer would have no standing of any kind.
I don’t recall anything about 15 days being of any legal meaning or magic under the Cal Civil Code, although it is one of the more unique ones (e.g. it only allows a very limited variety of documents to be recorded at all, whereas most recording statutes allow most anything to be recorded if it’s pertaining to land and has been signed and notarized) so I’d not be concerned about whether it was under the 15 days.
Re: 15 days to record deed - Posted by Keith(CA)
Posted by Keith(CA) on December 13, 2004 at 20:50:23:
John,
FYI, the magic of 15 days in CA is that the purchaser is guaranteed by law that title shall be considered vested as of 8:00AM the morning of the sale if the trustee’s deed is recorded within that 15 day window.
CC §2924h(c) reads in part, “…the trustee’s sale shall be deemed final upon the acceptance of the last and highest bid, and shall be deemed perfected as of 8 a.m. on the actual date of sale if the trustee’s deed is recorded within 15 calendar days after the sale, or the next business day following the 15th day if the county recorder in which the property is located is closed on the 15th day.”