Posted by Brian (UT) on November 11, 2005 at 10:46:43:
I am not an attorney, but if this were my problem I would view it as follows: When the owner signed the contract with me it was fully enforceable and remains in effect. The quit claim deed only transfers the interest a party has in a property, if any. It doesn’t
wipe out any other existing interest anyone else has, so this second party is buying subject to any claims against the property.
I would contact the second party and advise them that you have a enforceable contract and it was public information, and you intend to complete the contract you have per it’s terms and will expect their full cooperation, and any interference will be cause and justification for a lawsuit and damages.
And just for legal purposes, I would have them sign an acknowledgement that they were aware of your existing contract and their obligation to honor it, and will cooperate fully and not interfere in any way.
Have you contacted the owner you were dealing with and asked what happened? Confirm he advised this second party of your contract prior to quit claiming.
seller signed with two companies - Posted by L.Holmes
Posted by L.Holmes on November 11, 2005 at 06:06:22:
Seller signed with two companies
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Hello All,
Here is the situation. My company has a house under contract from a homeowner in the preforeclosure stage. My company had the home owner sign a contract as well as a “Affidavit of Notice of Interest in Real Estate”. Both documents were signed with a notary present and sealed. The following day the “Affidavit of Notice of Interest in Real Estate” was taken to the court and made public notice. A week later, the home owner was approached by another company and was convinced to sign a “Quit Claim Deed”. Now that is two documents filed at the courthouse by two different buyers. Does anyone have any idea as to where this leaves me and my company. We were first in line and thought that we took all of the appropiate steps. I realize that this is a legal issue, but I am just wondering if anyone else has had any experiences such as this. I will be contacting my attorney soon.