Re: Different Forclosures titles - Posted by Irwin
Posted by Irwin on January 05, 1999 at 20:45:51:
Yes, I’ll admit my answer was a little abrupt; howevr, I was somewhat taken aback by a question which was the
equivalent of saying: I bought a book about how to build a car, but I’m a little confused about some of the terms - like transmission, engine, pistons and, cylinders. Where can I get some information on these things so I can build my car?
Also, you picked the most technical and difficult area of distressed r/e investing - mortgage foreclosure- to start out with. I never recomend newbies start out in foreclosure because it takes a lot of expertise and more importantly, cash. Lots and lots of cash.
That said Eric, you did ask where could you find out about the different sales and the differences between them, and that question is answerable, but I don’t think the answer will take you down the road very far.
A SHERIFF is a County elected official who, among other duties, conducts JUDICIAL sales. That is, sales held pursuant to a Court judgment. CIRCUIT COURT is usually the highest trial court in each county. It would try cases in which a judgment of foreclosure is entered, leading to a JUDICIAL sale by the SHERIFF.
An INTERCOUNTY sale (I’m guessing on this one) is probably one where the land being sold lies in more than one county. Special statutes (laws) govern this type of sale.
Sometimes a Court in a judgment will order certain property sold (for reasons other than non-payment of a mortgage) and the judge will appoint a SPECIAL COMMISSIONER to conduct the sale. FEDERAL COURT is where Federal law is enforced. Property sales ordered by a U.S. District Court judge will be conducted by the U.S. MARSHAL for that district.
This info should also give you some idea about where to go to get information on any particular sale you see advertised.
The list you bought was probably out of date when you got it. Don’t waste more money on those. There are better ways to find out about pending foreclosure sales.
