The seller is selling a home FSBO. The seller aquired the home through right of heirship.
When the mother died the property had been owned free and clear for almost twenty years. Herin lies the issue:
The construction loan shows released. The end loan is recorded but no release is found of record. Worse yet, the loan was done w/o a title company. It was closed through an attorney and that attorney is now deceased. The end loan Bank was taken over by the FDIC in the early 80s and all assests were sold off .
What is the statute of limitations in Texas for mortgages. Would you issue a policy if the statute of limitations had expired?
Thanks for all of your comments.
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