What is legal remedy foran incorrectlegal description on a mortgage?

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What is legal remedy foran incorrectlegal description on a mortgage?

Is there a legal remedy when the wrong legal description was used for a mortgage and the buyer never signed any page with a legal description at closing? The page in question was mistakenly left out of closing paper work and later added without borrower initials or signature. Bank is attempting to foreclose but borrower is objecting, saying mortgage was for different property. Does the buyer have a case? Is this something title insurance is designed to handle, removing liability from buyer?

Asked on December 10, 2011 under Real Estate Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

I suggest that you should immediately consult with a real estate attorney about the situation you are writing about. In short, the escrow company who drafted the mortgage that recorded on the wrong property needs to assist in resolving the problem.

If the mortage is defective, it seems that the lender will have a hard time from a legal perspective foreclosing if the borrower retains a real estate attorney to file an action for an injunction against the lender from foreclosing. The mortgage seems to have to be corrected and then recorded where the one in existence is then released.


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