May 5, 2010
Dear George: I acquired title to a property via a sheriff's sale. The property has a mortgage lien on it, and the bank won't talk to me about it because I'm not the previous owner. I want to pay off the lien. Don't I have a legal right to obtain information and pay off any liens on property to which I hold title?
Answer: No. The bank has no contract with you. Your situation illustrates a risk of buying at a sheriff's sale. Do you know what lien priority you purchased? Was the sale properly held? Does the existing lender have a superior lien that can foreclose you? Get the answers to these questions as soon as possible.
E-mail a question to ask George & Chuck or fax it to 713-978-6684. The answers to questions in this column do not contain legal advice. If you wish to obtain legal advice, you should consult your own attorney.
