Citibank became the successor to the original deed of trust in 2017, and recorded a new notice of default, foreclosed, and became the new owner in 2018.Ī few months later Plaintiffs filed their quiet title suit. Plaintiffs, seeing it empty in 2013, saw that as a green light to take possession and pay property taxes. Apparently, the lender never completed the foreclosure, the bankruptcies concluded, and the owners walked away from the property.
CITIBANK FORECLOSED PROPERTIES 2021 SERIES
They went into default and a Notice of Default was recorded, so the owners filed a series of bankruptcies.
owners of property in Kern County had a deed of trust. One of the elements required to prove adverse possession is that the possession or use must be “hostile to the owner’s title.” What happens if the adverse possession occurs on property with a deed of trust recorded, and the lender forecloses? In a recent California decision, the adverse possessor lost because the adverse possession did not count against the Lender until the lender acquired the property at the trustee’s sale. Adverse possession is a way of acquiring title to real property through continuous possession or use for a specified period of time. (CCP §760.010) A common goal is to establish title by adverse possession.
One can establish any interest in property or cloud upon title. A quiet title action is brought to establish, or “quiet”, an interest in real estate between adverse parties.
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