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Ask California Lawyer Your Own Question
California Lawyer
California Lawyer, Lawyer
Category: Real Estate Law
Satisfied Customers: 1043
Experience:  Licensed to practice law in California
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What is the format or template for a homeowner to attach and

Customer Question

Hello, What is the format or template for a homeowner to attach and perfect their own "Security Interest" in their own property in terms of 'financial interest for monies they have paid during the ownership of the property? It would be nice if it were a "Super Lien" in nature.
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  Damien Bosco replied 5 months ago.

Hello: My name is ***** ***** I am an attorney. Please give me a moment to review your question. I may ask some questions to clarify issues.

Expert:  Damien Bosco replied 5 months ago.

I never heard of homeowners having a security lien in their own loan besides having the equity in it. In other words, the homeowners pay down the loan and have an automatic equity interest in the property, which is in affect their security lien. So, I am not quite sure what you mean. Maybe you can clarify it.

Customer: replied 5 months ago.
Hello Mr. Bosco, I believe it a reasonable provision to expect that a homeowner has a right to record their own financial interest in some format of effect, in their own property (not loan). My question hopefully was specifically referencing "financial interest" in their own 'property'. Such as maintenance costs, fees, payments, insurance etc. Maybe I have the name of such a document wrong - but the correct name of such a document that can be recorded with legal effect would need to be identified by a legal person such as yourself. Thank you, ***** ***** this is out-of-the-box thinking and isn't widely known. BTW: No legal 'Notes' were possible with this MERS origination. Sincerely,
Expert:  Damien Bosco replied 5 months ago.

Either you record a mortgage agreement on real property or a UCC statement on personal property. Also, for services on property that would be a mechanic's lien. So, if a contractor did work on a property and was not paid, then the contractor could put a mechanic's lien. I am sorry I do not know of any other type of recordation or a security interest or lien.

Expert:  Damien Bosco replied 5 months ago.

Hello: Just following up. I know my answer was not exactly what you wanted to hear. But it is better to know what is expected in this situation. If you have a follow-up question, just let me know. If you are satisfied with your answer, please provide a positive rating between 3 and 5 stars for the service I provided to you. If you want me to open your question for other experts to see, let me know. Best regards.

Customer: replied 5 months ago.
Sir, if you would kindly run this question up the flag pole I would be greatly appreciative. The objective I suppose falls in the category of foreclosure defense for a MERS transaction. I don't know if I was suppose to select a assets protection or another category lawyer for this question. I do entirely appreciate your availability in this matter though.
Expert:  Damien Bosco replied 5 months ago.

You are in the right category. I will open it to other attorneys to see if they have any further insight.

Customer: replied 5 months ago.
Thanks very much Sir. Just really 'anything' of effect to extinguish a 'power of sale'. I have thought about a Revocation of Power of Attorney, Attorney in Fact based on recent discoveries of fraud even.
Expert:  Irwin Law replied 5 months ago.

Good morning. I will be happy to take over from Damien at this point. You said: I believe it a reasonable provision to expect that a homeowner has a right to record their own financial interest in some format of effect, in their own property (not loan). As Damien tried to point out to you, that presumption is incorrect. One cannot hold a security interest in real estate that one holds title to. There would be no reason for that. When one holds title in fee simple absolute, both equitable and legal titles are automatically merged. The Merger Doctrine provides that any agreements or contracts involved in the conveying of property are "merged" with the deed. The doctrine's name, then, is a bit of a misnomer. The deed does not so much merge as it does supersede all the ancillary and outside agreements and contracts. Whatever promises are not expressed in the deed are effectively nullified under the Merger Doctrine. That said, you can record an affidavit as to the amount of money that you have spent on your home, but it has no legal significance or standing with regard to the title.

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Customer: replied 5 months ago.
Thank you so much Mr. Irwin. My dialogue with Mr. Bosco had progressed beyond the point you made, as your point was his first communicated position, essentially. Please pardon my layman like knowledge on attorney specialized areas. It is my understanding that attorney areas of practice include the specialization of 'foreclosure defense' which may include elements of asset protection, which I thought were all consolidated in the arena of Real Estate Attorney. Should I have instead presented my question to 'asset protection'? There has been no 'JustAnswer', response to the nature of the transaction being originated in MERS, which I understood to be a critical piece of info in the overall diagnosing my inquiry. As you know, MERS fraud had a large footprint in crashing the economy / real estate. So very sorry I don't know all the magic words or correct phrases of what I am trying to ask. I'm just relying on the subject-matter-expert to see beyond the surface that I am only capable of communicating, and know the deeper matters of what will help me. Thanks very much for your time.
Expert:  California Lawyer replied 5 months ago.

Hello,

The other posters are correct. Your deed is representative of your interest. With your deed, you take the market value, subtract the security interests (the amount you owe) and that is YOUR interest. You can't have a security interest in something you own. For instance, you can not be on the title to your car, and also be listed as a lien holder, thereby requiring you to send yourself a release of lien in order to own your car outright which is what you already do.

DCG