QUIET TITLE: Rescission and Quieting Title What is a Quiet Title action? Regarding the context of property financed through a mortgage loan that has been rescinded the legal action to remove the lien is known as Quieting Title. This is an operation of law. A Quiet Title action is a Court procedure that is required in order to get a Court Order confirming that the procedures undertaken by the homeowner in performing rescission was done in accordance with Truth In Landing Act. Thus, when the 20 day requirement for the mortgage lender fails to tender first the the title should be free and clear of any liens or encumbrances by operation of law. Quiet Title is a method of taking adverse possession, (basically changing the title (deed) of the property from one person to another person without buying it but taking control though legal action. It is a means of involuntary transfer by operation of law. An action to quiet title is a lawsuit filed to establish ownership of real property (land and buildings affixed to land). The plaintiff in a quiet title action seeks a court order that prevents the respondent from making any subsequent claim to the property. Quiet title actions are necessary because real estate may change hands often, and it is not always easy to determine who has title to the property.
Posted on: Thu, 08 Jan 2015 23:53:24 +0000
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