I am in the state of California.? I purchased a property at the auction about 12 days ago, I’ve been trying to follow up, just got word that they will be mailing me the deed on my day 14 or 15 of purchase.? Will I encounter any issues or problems for recording the property after 15 days.
Thanks!
Hi Christina -?
If the Trustees Deed is not recorded within 15 days of the sale date
then the effective date will be the date of the recording of that document. If
recorded within the 15 days then the effective date is the actual date of the
sale. There is a certain exposure there that additional documents could be recorded
during that time that could create some problems. Not likely but certainly a
possibility.
However here are some other threads you can check out that discuss this issue:
http://www.foreclosureradar.com/forum/topics/10159/recording-deed-within-15-days/
? ?I am one of those who (a majority?) who feel that “15 day recording period” is nonsense. ? I have never heard of any problem caused by the fact a TDUS recorded on day 25 rather than day 14. ?
? ? History of that “15 day verbiage” to the law. ?— ?15 years or so ago there was a flurry of bankruptcies that were filed on the morning of the sale. ?(Eg. 9:30AM) ?Eg. The sale took place at noon, because lender did not know about bk. ?State tried, by this law, to state that if you recorded TDUS within 15 days, it was as though you recorded at 9AM the day of the sale. ? Of course state law doesn’t over-ride Fed. law. ?If the bk. is filed before fcl. sale takes place, it voids the sale - assuming the bk. filer hasn’t been prevented from filing a “good” bk. because of previous bk. filings.