Foreclosure has two purposes – pay the debt out of the security and restore the title to the land.
It is always possible that when real estate has been encumbered by mortgages or deeds of trust, taxes, condominium liens and other statutory liens, post-mortgage transfers of ownership of the real estate may anticipate, follow or coincide with foreclosure proceedings. Foreclosure is a remedy that, when brought to completion, entails an involuntary divestiture of the title and, depending upon the facts and circumstances of the case, one that may conceivably become contested during or after the foreclosure’s transfer instrument. This white paper reviews the two main purposes of foreclosure and discusses lien priority, short sales, and what happens when bankruptcy coincides.
Agenda
Faculty
Duane H. Wunsch
Fidelity National Title Group, Inc.
- Vice president and state counsel for Fidelity National Title Group, Inc.’s Wisconsin office
- 30 years of experience as in-house underwriting and claims counsel
- Frequent lecturer to both attorney and non-attorney customer groups
- Regularly conducts training sessions for title and escrow staff
- J.D. degree, Emory University; B.A. degree, University of Wisconsin-Madison
- Can be contacted at 262-796-3852 or [email protected]
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