Real Estate Law
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Hi and welcome to JA. Ray here to help you today.
You might want to see if ex wife and kids would quit claim it back to you so you can then deal with a short sale as owner.Since no profit here why not try to get the others to do this quickly.
As far as your homestead Florida has unlimited homestead protection.They can lien the property but not foreclose.I am very familiar with Florida law.
Let me know if you have more follow up.
A quit claim from the ex and kids to you would give you clear title here and allow you to short sell it.
Reference to unlimited homestead protection--note they cannot force a sale but can cloud title with a judgment here in Florida
Well a quit claim deed on the property would give you title and force them to talk to you.
They cannot take a Florida Homestead it is protected 100% by law.See reference above.
Is the house for short sale itself in Texas?
Is problem with title --is ex alive here and able to sign it over to you as well as kids?
I am assuming property is in Texas?
Here are Texas quit claim forms you would just fill in names and notary state is Ohio.
Verify Texas is where the property is-
Once you are the legal owner you can seek approval for a short sale or a deed in lieu.Deed in lieu involves you deeding it back and they do not seek deficiency judgment.These are better options once you have legal title..
Florida quit claim forms
First step to get legal title back from the others and so bank will talk to you here.
Then ask about short sale or deed in lieu as alternatives.
They would get deficiency judgment against you only if loan is in your name only.
All foreclosures in Florida are judicial ones involving a civil suit and deficiency unless you can resolve it with the above.
Naples home cannot be foreclosed on but they can cloud title if they get a judgment against you here.
Once you have title again here is reference to Florida deed in lieu.
This is going to be tough here because you have paid for real estate.It will be hard to convince them to agree to a short sale or deed in lieu.
Sorry the utilities did this to you.I would try to regain title first from ex and kids.The lender will prepare the deed in lieu with instructions if they agree to accept it.
You would sign the deed in lieu here if others have quit claimed it back to you.
Then the lender forecloses gets deficiency against you records it to lien your property and thats it.When you decease--its no longer your homestead then they will take it or force sale for the amount of the judgment.
Remember her you are free to transfer property at the moment to someone else--I am talking about your homestead prior to foreclosure.
You will be served here with judicial foreclosure suit when they file it.
See if you can get the quit claim and then see what kind of deal you can make here.
Well you may have a civil suit against them if they acted illegally or unreasonably.
Thanks again for the chance to help today.I wish you the best.
You can transfer it now since you haven't been sued.There is no lien against it as you don't own it.If you do this say at your death the judgment lien passes with property.But now there is no judgment you would be able transfer it clear or sell it.The exemption will protect you from for closure for your life.
If you can positive rate it is always much appreciated.The best to you here.