Comments on: New Term: Proceedings Subsequent http://www.aaronsold.com/blog/2007/03/new-term-proceedings-subsequent/ Updates on the Twin Cities real estate market from Edina Realty REALTOR Aaron Dickinson. Sat, 28 Nov 2009 02:48:40 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: Aaron Dickinson - Edina Realty http://www.aaronsold.com/blog/2007/03/new-term-proceedings-subsequent/comment-page-1/#comment-6228 Aaron Dickinson - Edina Realty Thu, 21 May 2009 16:18:32 +0000 http://www.aaronsold.com/blog/2007/03/new-term-proceedings-subsequent/#comment-6228 Unfortunately I cannot comment on the legal risks as I am not an attorney and that would be legal advise. I can tell you that you would want to confirm that your Owner's Policy of Title Insurance covers these issues and that the proper paperwork has been filed. I have had clients close before a Proceedings Subsequent has been completed. It's best to speak with an attorney, your agent and your title closer. Unfortunately I cannot comment on the legal risks as I am not an attorney and that would be legal advise. I can tell you that you would want to confirm that your Owner’s Policy of Title Insurance covers these issues and that the proper paperwork has been filed. I have had clients close before a Proceedings Subsequent has been completed.

It’s best to speak with an attorney, your agent and your title closer.

]]> By: Hang http://www.aaronsold.com/blog/2007/03/new-term-proceedings-subsequent/comment-page-1/#comment-6227 Hang Thu, 21 May 2009 16:03:15 +0000 http://www.aaronsold.com/blog/2007/03/new-term-proceedings-subsequent/#comment-6227 Hello, We signed a purchase agreement for a property in St Paul. Before closing, we found out that they haven't completed the Proceedings Subsequent. It's been 2 months since we signed the purchase agreement. The attorney that's handing the Proceeding Subsequent told us it's very normal and there is no risk. They wanted us to close the deal now rather than wait until the Proceeding to complete. We would have to sign an acknowlegment that we're aware of the situation. What would be your advise? We don't mind to wait but the bank has been pressuring us to close. Are there any risk if we close before they're done with the Proceeding Subsequent? Thanks, - Hang Hello,

We signed a purchase agreement for a property in St Paul. Before closing, we found out that they haven’t completed the
Proceedings Subsequent. It’s been 2 months since we signed the purchase agreement. The attorney that’s handing the Proceeding Subsequent told us it’s very normal and there is no risk. They wanted us to close the deal now rather than wait until the Proceeding to complete. We would have to sign an acknowlegment that we’re aware of the situation.
What would be your advise? We don’t mind to wait but the bank has been pressuring us to close.

Are there any risk if we close before they’re done with the Proceeding Subsequent?

Thanks,
- Hang

]]> By: Aaron Dickinson - Edina Realty http://www.aaronsold.com/blog/2007/03/new-term-proceedings-subsequent/comment-page-1/#comment-6064 Aaron Dickinson - Edina Realty Tue, 28 Oct 2008 15:48:09 +0000 http://www.aaronsold.com/blog/2007/03/new-term-proceedings-subsequent/#comment-6064 6-9 months is not unusual. 6-9 months is not unusual.

]]> By: Thos. http://www.aaronsold.com/blog/2007/03/new-term-proceedings-subsequent/comment-page-1/#comment-6063 Thos. Tue, 28 Oct 2008 14:53:22 +0000 http://www.aaronsold.com/blog/2007/03/new-term-proceedings-subsequent/#comment-6063 How long did it take to get clear title? I'm in the midst of one that's taken seven months with no end in sight. Thanks. How long did it take to get clear title? I’m in the midst of one that’s taken seven months with no end in sight. Thanks.

]]> By: Aaron Dickinson http://www.aaronsold.com/blog/2007/03/new-term-proceedings-subsequent/comment-page-1/#comment-1588 Aaron Dickinson Thu, 29 Mar 2007 19:33:33 +0000 http://www.aaronsold.com/blog/2007/03/new-term-proceedings-subsequent/#comment-1588 Good point. I actually hadn't connected the dots on that one but now that you mention it I see why. Thanks for the clarification! Good point. I actually hadn’t connected the dots on that one but now that you mention it I see why. Thanks for the clarification!

]]> By: Ralph Mitchell http://www.aaronsold.com/blog/2007/03/new-term-proceedings-subsequent/comment-page-1/#comment-1577 Ralph Mitchell Thu, 29 Mar 2007 18:06:37 +0000 http://www.aaronsold.com/blog/2007/03/new-term-proceedings-subsequent/#comment-1577 Aaron: As you likely already know becasue the proceeding is before the Registrar of Titles, this procedure affects only Torrens registered property, not abstract property. Aaron: As you likely already know becasue the proceeding is before the Registrar of Titles, this procedure affects only Torrens registered property, not abstract property.

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