roperLy Class

SepL 23


*Apply Lo Lhe PLu88
Lxample of slr
lf PLu88 decldes ln favor of buyer how do you flnd ouL whaLs Lhe cerLlflcaLe number
of LlLle? Co Lo PLu88 and ask for records of Lhe parLlcular subdlvlslon ( 1he developer
submlLs Lo PLu88 all Lhe plans ) 8uyer found ouL Lhe number And wenL Lo 8 of ueeds
Lo geL a copy lound ouL Lhe LlLle of land was morLgaged for 30M and was on levy on
execuLlon by anoLher company
Pow do you solve?
1 Pave Lhe morLgage llfLed go Lo Lhe affldavlL of release of bank presldenL wlll
glve affldavlL LhaL once Lhe buyer pald Lhe bank wlll release morLgage wheLher
or no Lhe land ls pald Lawyer should noL Lell Lhe credlLors
2 Ask [udge for order llfLlng execuLlon remlnd courL LhaL law should be ln favor of
buyer
3 Slnce you have [udgmenL of PLu88 ask [udge Lo ask sherrlff Lo order release
and ask hlurb/8u Lo lssue new LlLles
4 1lLle wlll be free of encumbrance

8ank wlLh PLu88 wlll approve morLgage only lf underLakes Lo release properLy
noLwlLhsLandlng Lhe facL LhaL developer hasn'L pald anyLhlng

When Lheres a slngle 1C1 for each lndlvldual loLs Lo be lssued separaLe 1C1s cancel 1
sL

1C1
oLher developers malnLalned old 1C1 and geL new 1C1

rescrlpLlon perlod when conLracL ls lnvolved 10 years
1herefore musL flle acLlon asap

ueveloperspreselllng musL have llcense Lo sell by PLu88 for LhaL parLlcular pro[ecL
Cne lnsLance w/o llcense sold unlL Lo cllenL esLafa lawyer flled case of esLafa