Upcoming Foreclosures

If you as a real estate developer has obtained a driveway easement but you then found out that the bank owned?

the property in which the easement of the driveway is over. Then you find out that the bank that owns the property in which the driveway is over and they are having a public foreclosure on the property. Should I be concerned about this? If so, what steps can I take to protect me as the developer?

Public Comments

1. Talk to the bank...
2. If I were a real estate developer I would ask my attorney.
3. You want to make sure your easement is recorded among the land records in the county where the property is located. If you have obtained an easement, there should be a deed granting the easement. That deed should be recorded with the county clerk. This provides the requisite notice to potential buyers of the property that it is subject to the easement. Without that notice, you could have a hard time enforcing the easement against the new property owner, who could claim to be a bona fide purchaser without notice. Talk to a real estate attorney, definitely.