Real Estate Law

Have real estate law questions? Ask a real estate lawyer.

Ask a Lawyer,
Get an Answer ASAP!

This answer was rated:

I acquired a trustee's Deed from a Chapter 7 trustee piece…

I acquired a trustee's Deed...
I acquired a trustee's Deed from a Chapter 7 trustee for a piece of real estate. The house is worth a $1,000,000.
The first mortgage is $800,000.
The second mortgage (HELOC) is $100,000
A judgement lien of $600,000 from a separate real estate property.
I am attempting to settle the underlying liens and encumbrances to obtain marketable title using litigation and settlement conferences with lenders and I have just hired an attorney with 10 years of servicer employment with Wells Fargo and Bank of America who has been making key introductions to settle these properties.
OK, so that is the business of the company. The company derives income from rental income of these properties. In the course of doing business the company must put in substantial improvements into the property using one of the company's licensed contractors.
If I don't do these improvements the properties, that all have many years of deferred maintenance that has accrued, will begin to physically deteriorate and start to lose value, like all of the other vacant and abandoned foreclosure homes still out there.
My question is can I protect my capital investment into these properties by filing mechanics liens that follow the Oregon Revised Statutes as to procedure.
I think that this is the basis of my question and I look forward to your response.
Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 13 minutes by:
9/4/2015
CalAttorney2
CalAttorney2, Lawyer
Category: Real Estate Law
Satisfied Customers: 10,244
Experience: I am a civil litigation attorney with experience representing HOAs, homeowners, businesses and others in real estate matters.
Verified

You can try using a mechanic's lien, but I would be very doubtful as to the court's enforcement of this lien over any of the senior liens on the property (even if you are using related entities to perform the work, they are still "insiders" and this would be seen as a "fraudulent transfer" (not that you are doing something illegal, just that the Uniform Fraudulent Transfer Act gives other creditors a way to set aside your claim).

I would recommend speaking with your current attorney(s) about ways to better protect your ongoing investment in conjunction with your other negotiations. Many creditors are willing to "subordinate" their loan to a lien placed against the property if the new loan can somehow benefit them (maintain property value/secure their asset/etc.).

So, wrapping this into your negotiations, rather than trying to secure around them, may be your best course of action. But I would speak to your local attorney as they can provide you with formal legal advice (as opposed to my "general" advice based on "general" practices - they can tell you what they believe will work best based on your actual lien situation.

CalAttorney2
CalAttorney2, Lawyer
Category: Real Estate Law
Satisfied Customers: 10,244
Experience: I am a civil litigation attorney with experience representing HOAs, homeowners, businesses and others in real estate matters.
Verified
CalAttorney2 and 87 other Real Estate Law Specialists are ready to help you
Ask your own question now
Customer reply replied 2 years ago

Thank you, ***** ***** following you here and understand and you gave me a great idea to incorporate into my answers and complaints.

You are welcome, and I do wish you the best with this matter.

Thank you for using our forum, and please do not forget to rate my service so that I can receive credit for assisting you.

Thank you again, and again I wish you the best.

Bill

Ask Your Own Real Estate Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a real estate lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask CalAttorney2 Your Own Question
CalAttorney2
CalAttorney2
CalAttorney2, Lawyer
Category: Real Estate Law
Satisfied Customers: 10,244
10,244 Satisfied Customers
Experience: I am a civil litigation attorney with experience representing HOAs, homeowners, businesses and others in real estate matters.

CalAttorney2 is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Barrister

Barrister

Lawyer

12,142 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

8,377 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

8,253 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,208 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,998 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

P. Simmons

P. Simmons

Lawyer

3,572 satisfied customers

12+ yrs. of experience including real estate law.

< Previous | Next >

Related Real Estate Law Questions
In a situation where a bonafide purchaser acquires the
In a situation where a bonafide purchaser acquires the property from a bankruptcy trustee in a voluntary purchase (buyer acquired the homestead exemption) without notice subject to the liens and encum… read more
DamienJD
DamienJD
Attorney
Doctoral Degree
5,096 satisfied customers
In Oregon can a lis pendens be placed on a property for a
In Oregon can a lis pendens be placed on a property for a breach of fiduciary duty with regard to a trustee of a family trust for a real estate transaction. Does the suit need to be filed or is the in… read more
Ray
Ray
Lawyer
Doctoral Degree
8,253 satisfied customers
I am the sole beneficiary of my Mothers estate which
I am the sole beneficiary of my Mothers estate which includes a mortgaged home (A first mortgage with Chase and a second (HELOC) with a local bank).Per the Garn-St. Germain act of 1982 Chase have made… read more
LegalGems
LegalGems
Juris Doctorate
12,601 satisfied customers
I started a construction company during my marriage. I
I started a construction company during my marriage. I bought a piece of vacant land and built a rental property. The home is titled in both our names. To save money, I did everything in house: permitting, design, plan drafting, contracting and all aspects of each phase of construction I performed labor complete the home. At one point, we estimated that my "sweat equity" in the property (remember, it was vacant land) was $250000. Is any part of that my separate property? … read more
LegalGems
LegalGems
Juris Doctorate
12,601 satisfied customers
HELOC lender has money judgment against me. Sale of vacant
HELOC lender has money judgment against me. Sale of vacant land was completed but brought only a fraction of judgment amount. After sale, judge released original first mortgage (house sold 3 years ago… read more
Irwin Law
Irwin Law
Juris Doctor JD
7,176 satisfied customers
Real Estate Sheriff Sale in Ohio. If the sale is initiated
Real Estate Sheriff Sale in Ohio. If the sale is initiated due to back real estate taxes ( tax lien forclosing) does this clear an mortgages or other lein holders? My understanding is that real estate… read more
KLAW
KLAW
Juris Doctorate
2,277 satisfied customers
Ms. Wilson, I filed and was discharged on a chapter 7 in
Hi Ms. Wilson, I filed and was discharged on a chapter 7 in 2008. My lawyer did not reaffirm my 1st mortgage or my HELOC. I paid both for about a year until the HELOC wanted to turn the account into a… read more
PhillipsEsq.
PhillipsEsq.
Attorney
JD
822 satisfied customers
I own 29 properties in Oregon that are all in foreclosure,
I own 29 properties in Oregon that are all in foreclosure, and are all underwater. I bought the properties from bankruptcy trustees subject to the existing liens and encumbrances. I have a partnership… read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,428 satisfied customers
Answer only if you are an expert in real estate tax, specifically
Answer only if you are an expert in real estate tax, specifically Capital gains. 1. Do loans against the property that must be paid off out of sales proceeds from a home sale get deducted from Basis i… read more
WiseOwl58
WiseOwl58
JD Honors Graduate
4,201 satisfied customers
In NC, if a home is going to foreclosure sale through trustee,
In NC, if a home is going to foreclosure sale through trustee, and I am the highest bidder (with no upset), am I responsible for the second mortgage (2nd Deed of Trust)? The primary lender has sent a … read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
What are the laws regarding a construction loan? What is the
What are the laws regarding a construction loan? What is the difference between a construction loan and a HELOC?… read more
Lucy
Lucy
Juris Doctor
130 satisfied customers
Thank you so very much for this service. This may try your
Thank you so very much for this service. This may try your patience, as my situation is complicated. Although I paid for an hour already with a real estate attorney, and have spoken with numerous real… read more
evanesq
evanesq
Managing Attorney
Doctoral Degree
6 satisfied customers
When a HELOC borrower gets hit with a deficiency judgement
When a HELOC borrower gets hit with a deficiency judgement and the borrower has moved to another state, does the judgement follow or must a new action be filed in the second state?… read more
N Cal Atty
N Cal Atty
JD
83 satisfied customers
I am in Florida and I recently sold my home as a short sale.
I am in Florida and I recently sold my home as a short sale. I owed 98,000 on the 1st and 50,000 on the HELOC and the house sold for 52,000 due to the severe decline in real estate values (I originall… read more
JBaxLaw
JBaxLaw
Attorney
Doctoral Degree
8,080 satisfied customers
Reside in Oregon. 1st mortgage Wells Fargo owe $115K 2nd
Reside in Oregon. 1st mortgage Wells Fargo owe $115K 2nd mortgage HELOC with Chase owe $215K Current value of house (primary residence) Approximately $250K. I have no other substantial assets. If I am… read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,428 satisfied customers
Can a private mortgage(trust deed) holder in California choose
Can a private mortgage(trust deed) holder in California choose to sue on the note and not foreclose so he can get a money judgment? The note and trust deed is a 2nd that was created at the time of pur… read more
N Cal Atty
N Cal Atty
JD
83 satisfied customers
what happens to a shortform deed of trust if the purchaser
what happens to a shortform deed of trust if the purchaser who secured the loan is not a bonafide purchaser?… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
I have a first and second mortgage on my home with America
I have a first and second mortgage on my home with America Servicing Company and I, have a Heloc with etrade bank which I thought was the 3rd lender but, they claim they are my first lender because th… read more
retirementlawyer
retirementlawyer
Attorney
Doctoral Degree
1,606 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x