Third parties looking to acquire an interest in real property from junior lienholders should consider the following: Before purchasing any interest in real property, order a title search report.
In U.S. Bank National Association v. Bevans issued May 21, the Third District Court of Appeal reversed a trial court order vacating a final judgment of foreclosure in favor of U.S. Bank, the senior lienholder. The appellate court also reversed the trial court’s finding that a third party’s ownership interest in certain real property was not subject to a prior owner’s purchase money mortgage.
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