Posted by Bill H on May 17, 2005 at 21:11:41:
nt
possible lawsuit over property legally deeded - Posted by Dolly
Posted by Dolly on May 16, 2005 at 06:17:24:
About 1 1/2 years ago I bailed my daughter and son-in-law out of a problem. They were losing their home. The mortgage company was about to foreclose for non-payment and the the county sheriff was about to auction the house off for non payment of two years worth of taxes. I paid the payments, paid the taxes then paid the entire balance of the house off. I took a deed of trust & vendor’s lien note on it. They had an active on-going insurance claim for mold on the house. I made an agreement with them that I would keep the house on a deed of trust until the insurance company settled the claim but then would have them sign a warranty deed over to me so that he (son-in-law) could not borrow against their house (homestead) again. I told them that I would only pay the house off ONCE.
The insurance company settled on the claim and I filed the warranty deed from them to me. I never received one payment from them (which by right I know that I could have foreclosed, but did not.) I was staying with my word.
Now, they are getting a divorce and my son-in-law is threatening to sue me for fraud. He claims that I 'TRICKED" him! He claims that he originally bought the house with his inheritance money so the house is his! He seems to have forgotten that he borrowed against the house 3 separate times before I helped them.
He is claiming that there was no notary present when he signed the papers.
Can you give me a little of your insight on this matter?
Re: possible lawsuit over property legally deeded - Posted by eric
Posted by eric on May 17, 2005 at 18:19:15:
I would do nothing until he actually sues you. Then hire a lawyer and do what is necessary. Better yet, take him out for a beer or three, find out what the real problem is, and try and resolve it. Sounds like a revision to your will is in order.
Re: possible lawsuit over property legally deeded - Posted by dealmaker
Posted by dealmaker on May 16, 2005 at 22:02:40:
My insight is that people who THREATEN to sue, rarely if ever do. Tell him to “bring it on”. I have no patience with these morons who are "all hat, no cattle.
dealmaker