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Roger
Roger, Lawyer
Category: Real Estate Law
Satisfied Customers: 31401
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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We have a property in Indiana that was sold with an

Customer Question

Hi Roger:
JA: Thanks. Can you give me any more details about your issue?
Customer: We have a property in Indiana that was sold with an "Agreement for Deed" and a Promissory Note that the borrow only made a couple payments and then vacated the property and can not be contacted. What is the fasted way to get the property back?
JA: OK got it. Last thing — Real Estate Lawyers generally expect a deposit of about $18 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.
Submitted: 11 months ago.
Category: Real Estate Law
Expert:  Roger replied 11 months ago.

Hi - thanks for requesting me. I'll be glad to assist.

Expert:  Roger replied 11 months ago.

Did you deed the property to the buyer.......or were you going to transfer the deed/title to the buyer after he made all of the payments?

Customer: replied 11 months ago.
No, we did not deed the property to the buyer, we have a Special Warranty Deed that we are presently having recorded. The note was for $25,000 and the unpaid balance is $24,986.34 so they have no equity in the property and we don't know how to contact them at this point.
Customer: replied 11 months ago.
We also know of no leins or judgments on the property and the taxes are paid up.
Expert:  Roger replied 11 months ago.
Was a deed of trust filed in the land records to show the lien -- or just a promissory note?
Customer: replied 11 months ago.
I don't think the promissory note was recorded, how to I check to confirm this?
Expert:  Roger replied 11 months ago.
The promissory note would not be recorded, but a deed of trust would. The deed of trust is what publicly publishes to the world that you have a lien against the property. Usually, you must have a deed of trust filed in order to have a right to foreclose.
Expert:  Roger replied 11 months ago.
But, if you didn't issue a deed to the buyer and if you didn't issue a deed of trust, then the best action to take would be to sue for a contract breach and disregard the foreclosure process because you already hold title to the property.
Customer: replied 11 months ago.
what is the process to "sue for a contract breach" since we have no contact information for the borrower?
Expert:  Roger replied 11 months ago.
You would have to file your door and find the defendant in order to serve him/her.
Expert:  Roger replied 11 months ago.
Yiu may have to hire someone to find the person - like a private investigator.
Customer: replied 11 months ago.
What do you mean by "file your door"?
Expert:  Roger replied 11 months ago.
Sorry - it should say complaint. I think I accidentally hit an auto key.
Expert:  Roger replied 11 months ago.
But, you'll have to be able to find the person in order to execute process and submit the person to the jurisdiction of the court.
Customer: replied 11 months ago.
Ok, how long does it usually take to complete a foreclosure if necessary in Indiana?
Expert:  Roger replied 11 months ago.
If you don't have a deed of trust or recorded mortgage, it's not likely that foreclosure is an option.
Expert:  Roger replied 11 months ago.
Also, if the buyer never got a deed, the property should still be in your name.Instead, your only option (and the only thing necessary) would likely be to file a lawsuit for breach of contract.
Expert:  Roger replied 11 months ago.

Please let me know if you need anything further. Also, please take time to positively rate our conversation so I may receive credit fora assisting. Thanks!

Expert:  Roger replied 11 months ago.

Please let me know if you need anything further. Also, please take time to positively rate our conversation so I may receive credit fora assisting. Thanks!

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