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Response to Notice of Title Defect by Seller to Buyer in Response to...

Santa Clara California Response to Notice of Title Defect by Seller to Buyer in Response to Notice

Name: Santa Clara California Response to Notice of Title Defect by Seller to Buyer in Response to Notice
Brand: US Legal Forms
Rating: 4.86 (296 reviews)

Category:

Oil Gas and Minerals - Notices

State:

Multi-State

County:

Santa Clara

Control #:

US-OG-607

Format:

Instant download

Description

This is a form of a Response to a Notice of Title Defect (by Seller to Buyer in Response to Notice).

How to fill out Santa Clara California Response To Notice Of Title Defect By Seller To Buyer In Response To Notice?

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If a seller is aware of such a defect and doesn't disclose it, they can be exposed to a lawsuit by the buyer especially if the defect makes a property dangerous or unfit for occupancy.

Statutes of limitations are typically two to 10 years after closing. Lawsuits may be filed in small claims court relatively quickly and inexpensively, and without an attorney. Lawsuits filed in state court may require an attorney and involve more money than small claims court allows.

The defect or impairment on the title can be in the form of a lien, mortgage, judgment, or other type of encumbrance. Because other parties can lay claim to the property or asset, the title cannot be legally transferred to someone else. Defective titles are also called bad titles.

A title defect may also be referred to as a cloud. These must be resolved before selling the property, and they include some of the following: Errors in the public records. Mechanic's liens. Bankruptcies.

Liens or debts on the property. This might be the most common problem that arises during a property title search.

If a seller fails to disclose, or actively conceals, problems that affect the value of the property; they are violating the law, and may be subject to a lawsuit for recovery of damages based on claims of fraud and deceit, misrepresentation and/or breach of contract.

Many title issues can be resolved by filing one of three common documents: A quit claim deed removes an heir and clears up title among co-owners or spouses. A release of lien/judgment removes a paid mortgage or spousal or child support lien. A deed of reconveyance records payment of a mortgage under a deed of trust.

A title is considered to be defective where there is potential for a third party to establish or attempt to establish an estate right title or interest which is adverse to, or in derogation of, the property owner's title to the property.

There are a number reasons you may not have clear title. You may owe back taxes or have an old lien from a previous owner attached to the property. When you purchased the property, you may have signed the deed incorrectly. Sometimes lien holders fail to clear liens after you satisfy a debt.

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In the purchase agreement, the buyer (or seller) will select a title and escrow company like Stewart. Title of California to supply those services.Here's how home sellers in California approach the task of preparing state-mandated disclosures to buyers about the home's condition. Santa Clara, California. Received in response to our notices of inquiry in the above-captioned dockets. 2F6C, 12140, Exhaust fumeflap, input signal ; 2F8F, 12175, Accelerator pedal module and brake pedal, plausibility.

6A24, 12181, Control panel and interconnection with other equipment ; 6D23, 12187, Fuse box, plausibility. The buyer is to obtain their state-mandated disclosure by checking with the title department for a copy. See Part III. B.3, above, on state disclosures. A buyer might decide to purchase a vehicle under California's limited warranty, but the buyer will be responsible for obtaining California warranty documentation. For more information about obtaining such documentation, see Part VI, below. Part I: General Disclosures About the Vehicle, with a Summary of the Terms, of the Warranty California vehicle owners or lessees must comply with a state regulation covering disclosures about the vehicle. This regulation (Part I, California Uniform Vehicle Code, Section 25109) is called the California Limited Warranty Disclosure (CLAD) or the “Clause 28 Code” (or the “Clause 28” Code).

Disclaimer
The materials in this section are taken from public sources. We disclaim all representations or any warranties, express or implied, as to the accuracy, authenticity, reliability, accessibility, adequacy, or completeness of any data in this paragraph. Nevertheless, we make every effort to cite public sources deemed reliable and trustworthy.

Santa Clara California Response to Notice of Title Defect by Seller to Buyer in Response to Notice

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What if seller didn't disclose all latent defects?

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