Thanks for your question and good morning.A quiet title action by a local lawyer is your only remedy.There are no premade forms here and a lawyer given your facts is essential.The court would award you legal title here.This is really you only remedy here with the additional lot.
Here are lawyers in Utah that do these kinds of quiet title suits.
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78B-6-1301. Quiet title -- Action to determine adverse claim to property. A person may bring an action against another person to determine rights, interests, or claims to or in personal or real proper
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We talked about doing a Quiet Title last time.
Since then, I researched the county records again on the lot and it turns out there is just one Deed of Trust recorded against the lot (actually there are two but it is the same company named). There was also a judgement recorded but the judgement has been satisfied but not recorded. I thought there were alot of other judgements and liens on the property but there is not. I am waiting for a title company to research the lot and make sure there isn't anything else.
But if its just this one investor involved with the two recorded deeds of trust, it might be possible to acquire the property through other means than Quiet title. The president of the investment company that originated the loan was very helpful when I called him and he is willing to release his company's interest in the property (small lot worth 10K) to me. I was advised that I could then foreclose on the property, a process that might be quicker than Quiet Title, less costly (about 1K instead of 5K) and wouldn't required any cooperation from the builder (the construction company that defaulted on the loan and has been difficult to find. It seems that the construction company is gone (license is expired with discipinary action) and the principles are uncooperative).
Are there any pitfalls in going with a foreclosure action?
Seems like if I acquire the deed of trust on the property, I could foreclose later when I sell my house/property, which is my goal in doing all of this....to sell .
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