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Spare deed with a corner Kentucky

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  • Spare deed with a corner Kentucky

    I had a home in KY and Moved to TN. We tried to keep both homes till the one in KY sold, but after $20k+ of payments on the KY home for 18 months and no sale, we let it go back to the bank by way of a deed in lieu. It was appraised at $225k just 4 years ago, but the market has declined and we lost all our equity. We owed $170k when we lost it.
    Now, the realty Co that Fannie Mae listed it with sold it within an hour after listing it! It was listed for $127,900! I couldn’t believe they would start it that low. It is a very nice home. Well, now about the spare deed.
    In 2004 my neighbor in KY sold his home. In the process of the sale he had a survey done and found that one corner of my $50k garage was built on his property. All this was done before he or I bought the properties. We were very good friends and he deeded me a small triangle that had the corner of the garage on it so I would own the entire garage. Well, there was no lien on this small triangle, so I still own it.
    My question is this, I still own the corner of the garage, or at least the property it sets on. I want to make sure that whoever buys the house pays me for the small parcel I still own. How do I make sure they know I have it? What rights do I have? This may be the only way I can get any equity back form my ole' KY home...
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