In the wake of the recent SJC ruling in the Ibanez case, Massachusetts Secretary of State William Galvin is thinking of a temporary fix to immediate title questions. The issue is kind of urgent because in some cases, the SJC’s recent ruling seriously calls into questions issues of ownership for those who bought foreclosed properties recently. Galvin’s idea is a Band-Aid approach that seeks to insert a temporarily appointed judge to review foreclosures in a “tribunal” process. Massachusetts, unlike many other states, does not require judicial review of foreclosures. The legislature is already considering changing Massachusetts to a state that requires judicial review, so Galvin’s idea is similar, but an admittedly quick-fix-for-now idea.
BostonREB Ford Realty > Galvin floats foreclosure ‘tribunal’ idea