Gold Supporting Member
- Jan 16, 2002
- Professional Status
- Certified Residential Appraiser
Tax map, recorded S/D plat, and visual inspection of REO site indicate a lot 100' X 250'. HOWEVER, Substitute Trustee's Deed to the mortgage company now owning the property reads as follows: 99.9' east X 99.9' south X .5' west X 250' north. Try to draw it. It doesn't close properly, and if you pretended it did, you would have a lot about .0011 acre. Of course the improvements (1470 SF house) are not on this .0011 acre. I made the extraordinary assumption that the description on the deed was an error and the plats indicate the correct boundaries, but what if the borrower in default says "OK, take what the Substitute Trustee's deed describes & I'll just move back in my house"? I haven't yet checked the original Deed of Trust, but I bet that's where the Substitute Trustee got his description. Wonder what will happen with this one?