quote:
Our law firm once foreclosed on a piece of property for a local bank. It was supposed to contain a newer ( maybe 5 years old) house, detached garage, and pool. So, the attorney handling the foreclosure simply used the description from the deed of trust-our firm had represented the bank in the closing as well. Bank foreclosed, family moved out, and the property was put up for sale. Buyers came in and were about to close when the whole process hit a snag. Turns out the bank had actually foreclosed on an empty lot next door! The builder had built the house, pool and garage on the WRONG LOT next door to the one on which the house was supposed to be built.

The Title Company is going to get sued.

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Posted by Cooter Davenport

Austin, TX

Member since Apr 2012

9006 posts

Posted on 5/24/16 at 3:13 pm to TheBuescherMan

quote:
Read up on the land grants in Taos, New Mexico. I have some family out there, and have heard some off-hand accounts of what's going on. 10-cent recap: in the 1700's, the King of Spain gave land grants in current-day north New Mexico to prominent Spanish soldiers and elites. These land grants were supposed to last forever. Over the years, some of the soldiers/elite's ancestors have sold the land. Current-day ancestors who can trace their lineage back to the original grantees are claiming that the land still belongs to them, as the earlier ancestors had no legal basis to sell the land in the first place (King's decree lasting in perpetuity). In some cases, these grants have been subdivided into hundreds of individual properties - they want all of them. I do not believe they have been successful in any of their claims

This is some fascinating stuff. I can't imagine the Spanish aristocrats having any footing since the land was sold under the jurisdiction of another nation that didn't recognize the legitimacy of the permanent grants. Possession is 9/10th and all that...

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Posted by Royal

God's Country

Member since Apr 2009

1003 posts

Posted on 5/24/16 at 3:20 pm to OweO

quote:
So did the previous owners get to move back in?

No. I think the builder actually ended up owning (or purchasing) both the lots to make everything right. Im sure thats an oversimplification, but it was before my time at the firm.

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