Cerritos, CA asked in Real Estate Law for California

Q: Grant deed shows two owners loan belongs to one. Who receives final check at time of sale.

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1 Lawyer Answer
Mr. Robin Mashal
Mr. Robin Mashal
Answered
  • Los Angeles, CA
  • Licensed in California

A: Disclaimer: The materials provided below are informational and should not be relied upon as legal advice.

It is difficult to answer your question without knowing more about the circumstances under which the Grant Deed was issued, and why the secured loan (deed of trust) was signed by one of the title holders only. There may also be some accounting issues between the title holders that need to be addressed. What is clear is that upon the property's sale the secured loan and any other liabilities/costs must be paid off first; the remaining balance may then be distributed to the title holders according to their interest in the property, subject to the considerations mentioned above. Be sure to consult your own attorney to protect your legal rights.

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