I have been paying my 36 year owner financed mortgage by mail for 35 and a half years. I have 6 monthly payments left.

Question

The last payment check I mailed was returned to me as undeliverable.  That never happened before.  I have since learned that the original owner died 5 years ago.  I was not informed, and I assume his heirs have been depositing my checks.  I have tried, but have been unable to contact the heirs so that I can pay the remaining 6 months of my mortgage.  I tried to contact the original Title company, but it has either changed its name or is no longer in business.  My question is:  will this prevent me from owning the house free and clear?  I have only 6 months to go.  Is there something more I can do?  Any suggestions would be much appreciated.  Thank you, James Phillips

Jane Kim · Answer

How did you "buy" this home? Typically, title transfers on the day of closing and then you pay monthly payments on a mortgage where your home is treated as collateral for the mortgage. But you own your home from the very beginning. Unless this was a lease contract with option to buy, then you need to exercise your option.  
I think you should consult with an attorney to review your documents and advise properly, otherwise we'll all be just guessing what is happening in your situation. 
Good luck.

Anthony M. Avery · Answer

Hire a FL attorney to search that title.   Hopefully it will disclose the mortgage and current mortgagee.   If no mortgagee surfaces, a Quiet Title Action is probably in order.

John Michael Frick · Answer

The good news is that title to your home would have been transferred to you 35+ years ago when you bought the home by means of a deed recorded in your county land records.  That is how the county appraiser and government entities know who to send the annual appraisal and property tax bills to.  Owner-financing only gives the owner a security interest in the home most likely by means of a deed of trust similar to what a mortgage company has.  If the holder of the security interest wants to foreclose, they would have to give you notice.  That being said, verify with your county clerk that the deed conveying the property to you has been properly recorded.  The original deed, which typically would have been returned to you after recording, should bear a volume and page number, or an instrument number, to assist in locating it in the county deed records. 
 
Then, check the probate court records for the county where the owner lived at the time of death, most likely the same county as the address where you've been mailing your monthly payments.  The probate court should have named a personal representative of the owner's estate (possibly using the word executor or administrator).  Contact that individual about your payments and ask where you should send your last six months' payments to.

Q: I have been paying my 36 year owner financed mortgage by mail for 35 and a half years. I have 6 monthly payments left.