2nd mortgage and town hall records

[dfri]

What is the name of your state? RI
My brother bought rental property from my mother and she is holding a second mortgage. I went to the town hall to look and the records and didn't see anything about the 2nd mortgage. The first was listed. Is the 2nd mort. ALWAYS listed in the town hall records? Knowing here, she was an idiot and said, "Oh, I trust you to pay it all back" She is 71 and I can see a brawl in the future when she passes away.

[HUD-1]

The second mortgage will only be listed at the Town Hall if it was recorded. Perhaps you should suggest to her that she record it if she is serious about getting the $ paid back.

And if you really want to check this out further, go to a local title company and have them run a current owner search; it will show whose name the land is in and what liens are currently on it.

There will be no brawl if there is nothing on record because everything involving real estate must be in writing. There will be no brawl because there will be no lien.

[Rhubarb297]

Originally Posted by seniorjudge

And if you really want to check this out further, go to a local title company and have them run a current owner search; it will show whose name the land is in and what liens are currently on it.

There will be no brawl if there is nothing on record because everything involving real estate must be in writing. There will be no brawl because there will be no lien.

Actually, in most states, an unrecorded mortgage is a lien. It's just a lien that has not been perfected by recording...which means its not worth much when faced with other secured claims that are recorded.

[HUD-1]

The problem is that if mom passes away and sonny gets his hands on the original, unrecorded mortgage, it may as well never had existed. Siblings are out of luck without a legal brawl.

Originally Posted by HUD-1

Siblings are out of luck without a legal brawl.

Squabbling siblings are called squibblings.

[dfri]

Originally Posted by HUD-1

The problem is that if mom passes away and sonny gets his hands on the original, unrecorded mortgage, it may as well never had existed. Siblings are out of luck without a legal brawl.

Thats most likely going to be another problem. He is a slime ball and she would let him pass anything by her. The original, unrecorded mortgage is probably on a napkin. Like I said, she is an idiot when it comes to believing him. I only found this out a couple of days ago, and haven't had the chance to confront her yet. She has already lied to the rest of the family, saying that she sold the house to him for $500,000; when the records show that the abutting lot and building was in the sale at the town hall records (value of that; $170,000).