Purchased a home and the builder has gone "belly Up" aka Bankrupt..We have a covenant but no Home Association.
by
Tasha W
+3
A few diffrent banks own the remainder of the homes (7) in a 13 home neighborhood. My neighbors and I have decided to come together try to find who the Declarator is and see if we can get them to turn over Authorirty to us. Its hard for me to find who owns what, I was told that down to our front entrance sign can be owned by someone different..Any suggestions on what we an do and where to start? All info appreciated in advance:)
6 answers
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Real Estate Attorney familiar with the way things work in your state and town is an absolute necessity. Start by contacting the RE lawyer who represented you at time of sale. Who do you have the Covenant WITH?
Nichter's Home Services Corp
on Sep 10, 2011
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We have it with the builder ...
Tasha W
on Sep 10, 2011
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Go to the property appraisers office or what ever government office stores copies of your deed, as well as title. There should be info there - check in your own file first, than ask questions to whom ever works there. They may be able to direct you in the city/county you live in.
Ken H
on Sep 11, 2011
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Ask questions? You might get lucky, but clerks are forbidden by law from providing advise, information only. So you have to know what to ask and how to ask it and hope for a clerk in a good talkative mood.
Nichter's Home Services Corp
on Sep 11, 2011
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Tasha W--you and your neighbors should contact a good Real Estate attorney to get an idea of where to start. Try contacting the banks that own the remaining properties and get as much information as you are able. Also let the banks know if any of the lots/properities they own need landscaping/grass mowed etc. They should be willing to come out and maintain their property. Here is a website that should be helpful . Let us know how the situation turns out. http://real-estate.lawyers.com/homeowners-association-law/When-HOAs-are-Bankrupt-or-in-Foreclosure.html TMW
TonyaM Williams
on Sep 11, 2011
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Speak to the banks, the home builder/ general contractor and the real estate attorney right away and get a plan together, http://www.newageglobalbuilders.com as a general contractor, you can contact me and I can try to help you
New Age Global Builders
on Aug 28, 2013
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