The name in public records & name on order are different

[Debra]

Hello!

So...do you then do the appraisal in the name that you find in the public records or do you use the name that the lender insisted that the property is in and make comments about the name you found the property to be in?

This has happened to me twice now in the past few months on drive-by 2055 preforeclosure reports...Thanks for advise! Debra :roll:

 

[Pamela Crowley (Florida)]

Double check your public records and use the OWNER OF RECORD. Explain it.

Don't let a lender dictate to you.

 

[larryhaskell]

Pamela:

There be some recent changes that don't show up in public records. You can show the borrower as one person and the owner a different person based on info in public records. The best approach though is to have the lender provide you with something in writing showing who the owner really is. Put the burden where it belongs.

 

[larryhaskell]

Sorry Pamela and Debra, I should have been responding to Debra.

 

[Mountain Man]

"Put the burden where it belongs."
Ditto, I get the latest recorded deed. If the lender has something that is more current than 2-3 weeks, which may not have been recorded yet, fax it to me, to get the change.

 

[Farm Gal]

Mel:

They can fax it to me,
but unless it is recorded: it ain't the 'owner of record' per the county...

and THAT is who gets put into the owner slot as far as I am concerned :twisted:

I'l explain myself silly about having a copy of a more recent deed, and all will be disclosed as being 'as indicated to me' and 'see attached',

but as far as I am concerned an unrecorded deed isn't worth the paper on which it's writ if it comes down to those 'matters of a legal nature' about which I am not an expert 8)

and most particularly matters about which I am not going to be a contributing party to the acquistion of!

I donate to worthy causes: not pickpockets :wink:

 

[Mountain Man]

Lee Ann, VERY true and I agree 100%.
I misstated my thoughts, :x long day and the brain shut down early. 8O In our area, the over worked filling clerks are usually several weeks behind. So, to make it easy on those of us who gotta be in the know, right now, they have a log book of things filed, but are yet to be recorded. However I agree, if it is not of public record, anyone can make a claim.

 

[Joe Birrell (NY)]

I have this problem on a regular basis (nearly everyday). Our problem is simply bad data sources and a County Clerk that went to lunch 60 years ago and never came back, can't trust anything your looking at. To avoid
reissuing every other report, we use name on contract of sale and/or name given by lender (if there's no match on public records), if's it's a scam let title company and attoneys worry about it. As far as I'm concerned it's just another "box" to fill in on URAR (like the Census tract #). I'm just the appraiser and like the limiting conditions say "...it's assumed the property is under responsiblle ownership..."

 

[Farm Gal]

MEL!!!

It's your fault!

I hadn't had one of those for a long time and of COURSE today HUD calls and wants me to 'correct the legal', and they want me to do it on their word, because they didn't give me any document :evil:

So I copied the "legal per county on-line", pasted the source page and sent it off with my standard explanation of I don't DO legals (or windows) cept what I can see and touch! :wink:

oh well I had my arguement at the ready 8)

 

[Mountain Man]

Good for you!! I had similar problem with a client a couple of months ago. They wanted me to make a legal (to cheap to hire a surveyor and attorney). Nope, I just identify the property with photos and what I find on record. Now days, the legal description I usually fill is "See the deed attached". :wink: