Lis pendens by U.S. Attorney - Posted by michaela-ATL
Posted by michaela-ATL on August 24, 2005 at 13:31:55:
I don’t know, if ay of you can give me advice on this situation, since it seems to stradle Real Estate, Civil and Criminal law. I know this board is just basic advice, but I’m not even sure what kind of attorney I need to approach about this.
This guy, let’s call him A, found a bunch of left over properties from a bankrupt company (they were abandoned in the bankruptcy). He started a new company with the same name and did quitclaim deeds to another corporation, that he has. These are vacant lots and are just sitting there.
I found the same left-ver pieces and negotiated with him about buying them. Signed contracts and during title search found that this is a ‘new’ corporation and not the original one reinstated.
A had been indicted in February for mortgage fraud on unrelated properties. Due to this, the U.S. attorney put a lis pendens on the nicest, most valuable property.
I, in the meantime, found the original shareholders of the corporation, negotiated with them, got the bankruptcy trustee on board, my real estate attorney etc. and am supposed to buy all these properties from them.
I met with the prosecutor and an FBI agent about this, gave them all my proof, that A doesn’t even have any legal right to these properties. That he’s stealing them. THey were very interested in my documentation and are actually using it in the trial as further evidence against him. I knew alot more details about the real estate dealings of this guy, than what they had and this is really strenghtening their case.
The thing is, they’re kind of putting me off about taking off the lis pendens. I would think, that they don’t have a legal right to keep it on there, since they now know, that he doesn’t own the property. But they’re saying ‘we’re working through it’ or ‘that’s the civil side and we’re criminal’ or just putting me off.
Does the real owner of the property have any rights or is it ‘once they want to seize something they can just take it, no matter what?’
What would you do?