What happens when there is no clear title - Say my name is on title - but there is a deed - forclosed on.?

Question

Okay a forsale by owner - sold us the house - he didn't make his payments to the mortgage company - we have the contract recorded - he is forclosed on - but our names are still on title - this in in oklahoma - from what I read - they had 90 days - to contest the title - what happens now?

Answer 1

You have a cause of action against the seller.  Of course, a judgment isn't worth the paper it's written on, especially when the crook didn't have money to pay his mortgage.  

Answer 2

Sounds like you need a real estate lawyer; While you may have recorded sales contract/ change in title to you, that does mean your new interest  supersedes  the lender interest in the land if it was not taken care at the for sale by owner. The lender recorded first an interest to the property, therefore still hold first priority interest in the land and can move to foreclose on the land

My bet your problem lies in the fact when you did the for sale by owner, the owner could not pay off the note, as such, what you received in the sale was basically a quit claim deed, with the note still attached to the land,

You could not get title insurance on your deal could you based upon that fact?