interabang
Junior Member
Help,he sold house and didn't pay secured note
What is the name of your state?CA
After reading 14-15 pages of messages, and the prompt and sound advice (if not somewhat acerbic), by homeguru, and a strange thread that didn't belong in the "real estate" forum anyway, I realized I posted mine probably in the wrong place. so here it is:
I am trying to figure out the difference between attachment orders (AT-105) as opposed to claim and delivery orders (ie CD-100). Summary of the situation is: I'm a financial executive, my friend/client is a construction development consultant, he advanced to a contractor $19,000 to pay a framer on a large construction project that was covered under a construction loan. The contractor wrote a check to the framer, to find out much later that the contractor's check bounced, and he needed to pay an additional $15,000 to get the job finished. The contractor "admitted" owing (not actually stealing) the money and a signed "secured promissory note" that was to be secured against his residence, however the note was altered and he'll need to file a civil suit to get that whole thing sorted out. However, in the mean time, the constractor appears to have sold his house, funds have been disbursed out of escrow (he denies this, but the title co is starting to sweat, and is trying to help), and he appears to have moved out last night, so I'd guess it's sold. Need to stop him from spending, hiding, the funds that he has, know it's a mess, and he hasn't paid his employee's, etc. etc. in the mean time what's the fastest way to protect whatever he can, before this guy flees the country. And who all do we sue: the title co, the new owners, the lender (just because the best bet to get anything I figure is through title insurance). And yes my friend has been prohibited ever doing anything like this without my approval, but we sure could use some guidence.
What is the name of your state?CA
After reading 14-15 pages of messages, and the prompt and sound advice (if not somewhat acerbic), by homeguru, and a strange thread that didn't belong in the "real estate" forum anyway, I realized I posted mine probably in the wrong place. so here it is:
I am trying to figure out the difference between attachment orders (AT-105) as opposed to claim and delivery orders (ie CD-100). Summary of the situation is: I'm a financial executive, my friend/client is a construction development consultant, he advanced to a contractor $19,000 to pay a framer on a large construction project that was covered under a construction loan. The contractor wrote a check to the framer, to find out much later that the contractor's check bounced, and he needed to pay an additional $15,000 to get the job finished. The contractor "admitted" owing (not actually stealing) the money and a signed "secured promissory note" that was to be secured against his residence, however the note was altered and he'll need to file a civil suit to get that whole thing sorted out. However, in the mean time, the constractor appears to have sold his house, funds have been disbursed out of escrow (he denies this, but the title co is starting to sweat, and is trying to help), and he appears to have moved out last night, so I'd guess it's sold. Need to stop him from spending, hiding, the funds that he has, know it's a mess, and he hasn't paid his employee's, etc. etc. in the mean time what's the fastest way to protect whatever he can, before this guy flees the country. And who all do we sue: the title co, the new owners, the lender (just because the best bet to get anything I figure is through title insurance). And yes my friend has been prohibited ever doing anything like this without my approval, but we sure could use some guidence.
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