title insurance: New Massachusetts Law Puts Ibanez to the History Books
- 12/03/15 04:29 AM
New Massachusetts Law Provides Clarity for how long the title can be challenged when buying a foreclosed home On November 28, Massachusetts Governor Charlie Baker signed An Act clearing titles to foreclosed properties into law. The 2011 Supreme Judicial Court decision,U.S. Bank National Association vs. Ibanez¹ had an immeasurable effect on the sale of foreclosed residential real estate in Massachusetts because it essentially opened up the doors to allow previously foreclosed homeowners to seek to invalidate foreclosures throughout the Commonwealth, with the result being that any title issued subsequent to the foreclosure could be invalidated. The result of the decision was that good faith purchasers of … (3 comments)
For those of you unfamiliar with the case of U.S. Bank v. Ibanez, attorney and fellow Active Rainer, Richard Vetstein, Esq. provides a nice, easy to understand narrative in his blog Ibanez Update: Massachusetts Land Court Decision Invalidates Foreclosures Based On Post-Sale Assignments. If you are a Massachusetts Realtor, this one is a must read. The March 2009 ruling in the Ibanez case, which potentially invalidates hundreds, if not thousands of foreclosure judgments across the Commonwealth, is based on a Land Court judge's ruling that the lender (U.S. Bank), who was seeking to clear a cloud in the title … (3 comments)
New Massachusetts Law Provides Clarity for how long the title can be challenged when buying a foreclosed home
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