• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Two Rivers Title Company LLC

Your Closing Partner

  • About
    • Who We Are
    • Our Core Values
    • Leadership
      • Business Development Team
    • Careers
  • Services
    • Realtors
    • Attorneys
    • Lenders
    • Homebuyers
    • Commercial
    • Government
  • Locations
    • New Jersey
    • New York
    • Pennsylvania
    • Florida
    • Closing Locations
  • Resources
    • Title Rate Calculator
    • NJ Transfer Tax Calculator
    • Frequently Asked Questions
  • Industry News
  • Place An Order
  • Quick Quote

Court Ruling Prioritizes Mortgage Over Life Estates

 

Although not applicable in every state, equitable subrogation laws are often used by insurers as a safety net in the case of searching discrepancies. In this case, (OCWEN Loan Services, LLC, v. Quinn, et al., Feb. 7, 2017) defendants Mr. and Mrs. Wuebbens conveyed their home to their daughter in 2004, while retaining life estates. The Wuebbens and their daughter executed a mortgage in 2005. In 2007, the daughter refinanced the home with IndyMac Bank F.S.B., using the proceeds, in part, to pay off the original mortgage. IndyMac’s title commitment failed to disclose the parents’ recorded life estate interests in the property and the Wuebbens did not consent to the mortgage (OCWEN Loan Services, LLC, v. Quinn, et al., Feb. 7, 2017). When the the daughter defaulted, and Indymac filed an action to foreclose the mortgage, the Weubbens challenged the mortgage priority over their life estates. The Court granted OCWEN (successor in interest to IndyMac) a priority interest in property (partial).

Read the full article originally from the American Land Title Association (ALTA) website here.

Filed Under: News Tagged With: New Jersey

Primary Sidebar

Get In Touch

Two Rivers Title is licensed in NJ, NY, PA and FL. Find us at one of our convenient locations.

855-751-7100 [email protected]

Office Locations

Footer

Get In Touch

Two Rivers Title is licensed in NJ, NY, PA and FL. Find us at one of our convenient locations.

855-751-7100 [email protected]

Office Locations

Two Rivers Title Company LLC

Two Rivers Title promises peace of mind, and we deliver. Two Rivers Title is a multi-state title and escrow company that focuses on providing its clients and customers with the highest levels of communication, expert title solutions and creative closing options. With an unmatched level of professionalism, genuine caring and the ability to creatively resolve even the most challenging issues, Two Rivers Title has earned a reputation for high quality and outstanding service.

Languages Offered

Copyright © 2023 · Two Rivers Title Company LLC

Contact Us

en English
en Englishko 한국어es Español