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INFOLAWYER
INFOLAWYER, Attorney
Category: FL Real Estate
Satisfied Customers: 57693
Experience:  Licensed attorney helping individuals and businesses
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Within florida foreclosure proceeding, if a person getting

Customer Question

within florida foreclosure proceeding, if a person getting foreclosed on deeds a property via quit claim or warranty to another party what happens. i am planning on bidding at the auction on this type and have seen in the past defendants deed it to other family members or third parties in the hope of avoiding losing the home. My thought was none of this will stop the auction sale. Is this true? is it true that the bidder will legally gain the property if they win the auction and acquire a certificate of title and may possess the property? In the latest one of these type of situations I have just had the owner deed it to a ministry. Are there any difference in rules if they deed it to a person, company, or charity? IS there any difference if they deed it with a quit claim or a warranty deed?
Submitted: 4 months ago.
Category: FL Real Estate
Expert:  INFOLAWYER replied 4 months ago.

Hello and welcome. I am working on your answer and will be right back!

Expert:  INFOLAWYER replied 4 months ago.

Is the bank doing the sale? are you a potential bidder but not connected to the bank or borrower?

Customer: replied 4 months ago.
the county of St Lucie is auctioning the property and the bank that had the mortgage is the plaintiff.
i have no relationship with either side and am only interested in the home (property).
Expert:  INFOLAWYER replied 4 months ago.

You can bid at auction. The borrower cannot transfer to third parties. The only way the sale does not happen is if the bank and borrower reach a settlement and agree to refinance.

Customer: replied 4 months ago.
what of them transferring via quit claim or warranty. whats the difference or benefit in this case How can owner use a warranty deed, what is he "warrantying" ? that he owns it for the time being, that he is conveying good title?
Expert:  INFOLAWYER replied 4 months ago.

Makes no difference, but you want to make sure you receive it free of any other liens and claims, which the bank may be able to confirm as can a title company.

Customer: replied 4 months ago.
Understood on the liens, but would claims include the entity or person that has these quit claim or warranty deeds, or are all these transfered deeds voided once the auction is completed.
Expert:  INFOLAWYER replied 4 months ago.

voided, you have title.

Expert:  INFOLAWYER replied 4 months ago.

Kindly rate me 5 stars.

Customer: replied 4 months ago.
ok.got it on title . when you mentioned liens , ones like credit card, mechanic, and irs will fall away but city ones such as utility and code compliance will stay. Am i correct? Thanks
Expert:  INFOLAWYER replied 4 months ago.

That is correct

Expert:  INFOLAWYER replied 4 months ago.

Kindly rate me 5 stars