Expert: Dick Dennis - 10/24/2009

Question
QUESTION: We bought a house with a DEED OF TRUST.

We fulfilled the obligation and received a RELEASE OF LIEN

We are now selling and the title company wants a DEED

I thought the filed release was as good as a deed and am confused as to what they are asking for.

ANSWER: Did you record that "Release of Lien"? It would have needed to be signed and notarized by the officer in charge of the company that released the lien. If they didn't record it (if the title company asked you for a deed, then they probably couldn't find any), then you need to record it, if you have not lost it by now. Some companies just send the Release of Lien to the borrower, leaving the chore to the borrower (they're too cheap to spend the few bucks to do it themselves). I do wish you well.

Dick Dennis
dixiedee13@aol.com

---------- FOLLOW-UP ----------

QUESTION: thank you for the answer....yes, I filed the release.

Answer
Then there might be one other reason the title company is asking for a deed: Maybe you did not get a Warranty Deed or a Grant Deed when you bought the property. If you did not buy the property, that might be part of the problem. In any case, some kind of deed must have been titled to you, a quit-claim deed or perhaps you were or are part of a trust that owns the property. Go to the title company and ask them to be specific what they need from you. Ask them to show you the "line of title." That means who has been registered as owner for the past 10 or 20 years. Most likely, they will not need to go back that far, but I am sure they will be able to show you the problem if you ask.

Dick Dennis