Are you aware of the issues that a Preliminary Report may bring up? If any of these items appear in the report, immediate action should be taken to prevent delays.
Notice of Action: A lis pendens, a notice of a pending law suit recorded, that warns that the property is the subject of a litigation. Any interest acquired during the pending of the suit are subject to its outcome. A release and/or a withdrawal of the action is required to be recorded to remove.
How it appears on a report:
NOTICE OF ACTION FILED IN:
COURT: SUPERIOR
CASE NO: B112234
PLAINTIFF: BOB CONTRACTOR
VS
DEFENDANT: JIM CONSUMER
PURPOSE: FORECLOSURE/QUIET TITLE
RECORDED: MAY 17, 2013 AS INSTRUMENT NO. 01-3344
Mechanics Lien: A statutory lien in favor of persons contributing labor, material, supplies, etc. to a work of improvement upon real property. A release must be recorded to be removed.
How it appears on a report:
A CLAIM MECHANICS LIEN
AMOUNT: $2,452.00
BY: BOB CONTRACTOR
RECORDED: MARCH 15, 2012 AS INSTRUMENT NO. 01-222
Uninsured Deed: A deed that has been recorded but is believed to not have been checked as to its validity. Additional information may be needed before passing title. Call your title officer to see what might be needed in each case.
How it appears on a report:
THE EFFECTO OF A DEED, DATED JANUARY 4 1999 EXECUTED BY JANE CONSUMER AS GRANTOR, TO JIM CONSUMER AS A GRANTEE, RECORDED JUNE 21, 2012 AS INSTRUMENT NO. 02-55663
THE REQUIREMENT THAT THIS OFFICE BE FURNISHED WITH EVIDENCE THAT SAID DEED WAS A ABSOLUTE CONVEYANCE, FOR VALUE, AND THAT THERE ARE NO OTHER AGREEMENTS, ORAL OR WRITTEN, REGARDING THE OWNERSHIP OF THE LAND DECSCRIBED HEREIN.
Bankruptcy: A proceeding in the U.S. Bankruptcy Court wherein assets of a debtor (unable or unwilling to pay debts) are applied by an officer of the court in satisfaction of a creditor’s claim. Debtor must be discharged or dismissed from the case.
How it appears on a report:
SUBJECT TO PROCEEDINGS PENDING IN THE BANKRUPTCY COURT OF THE CENTRAL DISTRICT OF THE U.S. DISTRICT COURT, CALIFORNIA, ENTITLED: IN RE: JIM CONSUMER, DEBTOR, CASE NO. AH24115, WHEREIN A PETITION FOR RELIEF WAS FILED ON THE DATE OF JULY 16, 2012.
Access: A landowner’s right to have ingress to and egress from the property to a public street. This property does not have legal access.
How it appears on a report:
THE LACK OF A RIGHT OF ACCESS TO AND FROM THE LAND.
If you have any questions, please get in touch with me; I’m always happy to speak with you.