Bank owned foreclosure

[Ampster]

So there were two ucc-1 lines on the house, but were wiped out in the foreclosure. Our title came back free and clear.

UCC filings used to be referred to as chattel mortgages. If your title is clear then have solar city contact whomever issued the clear title report.

[peakbagger]

Great news. Why do I think this is not over with Tesla

[daniel13]

Here's a previous thread about a similar situation:

https://www.solarpaneltalk.com/forum/solar-panels-for-home/solar-panels-for-your-home/13790-purchase-or-pre-paid-lease-of-4-year-old-solar-system

[John_Dumke]

It will be very dependent upon state law, and likely also the type of foreclosure. The most important person you can speak to will be the title officer of the title company that insured the title on your transaction. This is the person that I would get the number to first. He maybe able to shed some light.

You can likely get some free advice / insight into this situation, as they are the ones that would be on the hook should anybody file a title claim.

[John_Dumke]

I am not a lawyer, so take everything I say with a grain (or the whole salt shaker) of salt, but I would suspect that you have claim to them. The lease was with the previous owner and attached to the property. It would then transfer to the new owner, if the property didn't go into foreclosure. But the foreclosed loan being in place before the lease, may wipe out the lease agreement as it pertains to the property because the lease is subordinate to the lien. So the solar company's sole recourse may be to only go after the previous owner. The previous statement about the foreclosure wiping out the lease is only my best guess as a California Real Estate Broker and should not be considered legal advice.

You purchased a property and all of the attached fixtures are real property and included with the sale. It is likely that you have a greater claim to the solar panels than the solar company. I would spend a lot of time reading up on the law. It could come down to what state the property is located.

Let us know what your research shows. Until I had read up on everything that was available, I would assume they are yours and keep the solar company off the property.

But Wait........ This article below says stuff about Fixture Filing as it applies to California. And that you may not own the panels.

https://www.swlaw.com/blog/real-estate-litigation/2016/11/24/green-energy-can-complicate-real-estate-foreclosures/

Knowing the state you are in would be critical. And knowing exactly how the Solar Company protected their interest will be critical.

Keep us posted! What state are you in?

[beans31]

I recently purchased a bank owned foreclosure that had a solar city solar system on the roof. The bank had "no" knowledge about the system (right before we closed we found out that the panels were leased). The bank told us to consider them fixtures and that we owned them. Our title came back clean and all liens having to do with the panels had been wiped out in the foreclosure. We received a generic letter from tesla addressed to "current home owner" stating we had to sign a lease or they would come take the panels. Has anyone else dealt with this?