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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 117368
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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Morning- I own land in WY and trying to borrow down payment

Customer Question

Morning- I own land in WY and trying to borrow down payment for a home in WI. My late husband & I back in 2004 bartered 1 acre of WY land for foundation work, etc. There was and currently is a moratorium in place which is causing the title company of WY land not to proceed with loan until this is cleared up? Need to know what my options are since the home purchase in WI closing date is scheduled for 1/31/17. Please advise
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: WY = land and trying to purchase home in WI
JA: Has anything been filed or reported?
Customer: agreement to transfer land has been filed in Lincoln County WY back in 2004
JA: Anything else you want the lawyer to know before I connect you?
Customer: no
Submitted: 7 months ago.
Category: Legal
Expert:  Law Educator, Esq. replied 7 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

If the seller cannot pass clear title onto you, then this would be legal grounds to cancel the sale and for you to recover any and all money paid to the seller for the property under the implied warranty of merchantability. A title company cannot complete the transfer as long as there is any cloud on the title, so the title company and you and your seller has to either work together to clear the moratorium by going to whoever placed the moratorium and getting it lifted and removed or you have a right to cancel the purchase and the seller must pay you for the value of the bartered service you provided to them.

That is the only way to clear the title I am afraid.

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Customer: replied 7 months ago.
The moratorium is on the WY property which is COUNTY regulations ... the COUNTY recorded the agreement to transfer land in the first place!
1) Would a "quite title action" work to clear WY title or be necessary if I still feel that this 1 acre "bartered" piece of property is respectfully ***** ***** builder contractor's payment in full?
2) quit claim deed that 1 acre ( if possible ) and have a MOU on the table for this 1 acre?Please advise if I am "able" or "unable" to borrow money from my WY property that I own for title borrowing logistics? I also have paid taxes on 100% of these acres since inception even with this "transfer of agreement" recorded = 12 years ago.... does that have any leverage?Time is on the essence as well since the Wisconsin home purchase contract is on the table with closing 1/31/17.thanks in advance for your expertise-
Expert:  Law Educator, Esq. replied 7 months ago.

Thank you for your reply.

1) Yes, the name of the action to clear the deed is called a quiet title action. This means you need an attorney to file the quiet title action.

2) The quit claim deed is a deed that transfers only the interest the seller may have in the land, it does not warranty the deed.

You cannot borrow on this land until you get the deed cleared though. So, you have to get it cleared or go through court to clear it.

Customer: replied 7 months ago.
Is a quite title action doable within 30 days and if so, what is the average cost of such?
Expert:  Law Educator, Esq. replied 7 months ago.

Thank you for your reply.

Generally, no it is not doable in 30 days, the other party has 30 days at least to answer the quiet title action. Generally, it is going to take a minimum of 90 days if there are no objections to the quiet title. An attorney will charged roughly $3000 for such an action, depending on how much opposition there is it could be more.

Customer: replied 7 months ago.
Do all real estate lawyers only practice in the state they are working in or can I retrieve any real estate lawyer for this? thanks
Expert:  Law Educator, Esq. replied 7 months ago.

Thank you for your reply.

You would need a real estate attorney licensed in WY to handle the matter..

Customer: replied 7 months ago.
do you have any further suggestions based on your expertise on what I could do to eliminate this cloud on title to borrow from this property?thanks
Expert:  Law Educator, Esq. replied 7 months ago.

Thank you for your reply.

I am sorry to say that the only way to remove the cloud at this point is by court action if they will not remove the moratorium when you contacted them.