So do I still own the garage?

[sh1035]

OK interesting situation and waiting on my lawyer to someday return my call.....

I had an investment condo and a detached garage (row of garages on edge of properties) I put down a large downpayment of 20%.

The garages were not actually deeded but assigned. About a year ago I sold the garage to my mom who lives in the same complex.

The transfer was approved by the management company and documented.

About a year later my condo is sold at foreclosure auction. Since the mortgage has changed hands (countrywide, BOA) there is no mention of anything about the garage in the foreclosure papers,etc.

Along comes joe invester who buys up a few condos including mine. He is informed by the busy body maintenance man about the garage. Joe investor tells my mom its his garage and not hers!

Mom tells him to gladly provide where he can prove he bought it and he can have it. Well today he shows up with a leter from his lawyer telling her she needs to show my closing papers?????

I told her once again we know I owned it and sold it to her. He would have to prove somewhere he bought it.

When asked this before he said well someone at BOA told him it was his. Well he bought it from Fanny Mae anyway.

Your thoughts?

[justbroke]

No real thoughts. Un-deeded property transactions are simply terrible. How would one know that they own it? What rights do you have to the land? i would go back to the Condo Association and ask them how they deal with the garages. Do you have proof of sale (to your Mom)? Do you have proof of sale to yourself?

A friend of mine lives in a Condo and they bought 5 parking spaces. They are deeded separately and can be sold/leased separately. That makes it easier to convey.

It is true that your original closing documentation may show the parking space as "part" of the mortgage and if it is, then the parking space was sold at the same time and the foreclosure did in fact foreclose upon that space. I would not show this paperwork to the other attorney... I'd review it for myself. The attorney is trying to use it against you, but they have no evidence that they own the space!

Seems like this will be very interesting since the spaces are not "deeded" but assigned. I'm just thinking that the un-deeded parking space is part of the "deeded" condo unit and you may have lost it. You need to address this with the Condo Association and your paperwork.

[sh1035]

Thanks for the reply. Actually, it does show up as a mention on the closing documents. The transfer I did with my mom was legit. Also, we have the approval from the management company when we trasnferred it (all in writing). All they actually have is a list that shows what garage goes to what condo.

I was not even assigned the garage until well after the closing. Also, I was assigned a parking space as well but that is deeded with the property.

However, as my defense I put down about 30k to cover my downpayment and my purchase of the garage (12.5k). I just looked as his deed and mine and neither mentions a garage.

Many other owners that had garages sold them, etc. The HOA is so hard to deal with half the reason it went to foreclosure. Had to have approval of lease, towing of renters in proper spaces, etc.