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Law Pro
Law Pro, Lawyer
Category: Real Estate Law
Satisfied Customers: 24870
Experience:  20 years extensive experience in real estate law, foreclosure, finance, and landlord tenant law.
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I, a MIchigan resident, owned a gas station property in Michigan

Customer Question

I, a MIchigan resident, owned a gas station property in Michigan through a fully owned S Corporation in Nevada (I bought in 2006). Without my knowledge the resident agent sold out to another company and did not pay the state fees. The Corp (Corp A)was suspended until I paid the fees in 2012. Someone else took the name and I renamed the same company as Corp B in Nevada. I sold the land in 2012 under the name on the deed (Corp A). Does this invalidate the sale if it was paid for in full and both new owner and I (old owner) are satisfied with the transfer. If that is an issue, what steps to modify the deed or is the corporate resolution documentation sufficient?
Submitted: 4 years ago.
Category: Real Estate Law
Expert:  Law Pro replied 4 years ago.

Welcome to JustAnswer! My goal is to do my very best to understand your situation and to provide a full and complete excellent answer for you.

My name is Fred and I'm going to assist you with your question.

Please bear with me if you believe my answer isn’t coming fast enough because I’m also working with other customers too. I apologize for any seemingly late response.

No, that doesn't invalidate the sale but that deed isn't valid.

So you need to file a "corrective deed" describing the events.

For there to be a "clear title" - there has to be a clear chain of ownership and transfers.

But with the property owned by A - then transferred by B - that isn't a clear chain of title.

The new owner who got the property from B doesn't have good title - they wouldn't be able to transfer it to someone else because there is a serious "cloud on the title".

So you are going to have to retain a local attorney to draft a "corrective deed" showing all these changes as to title.

If you have any further questions, please feel free to let me know…

You can always ask for me in your question, “This question is for Law Pro . . (then on with your question) . . . .

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