My brother wants clear title on property that I have money in. Do I place a lien against the title so I get my money back when it is sold or may I place contingencies within the title contract?
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My brother wants clear title on property that I have money in. Do I place a lien against the title so I get my money back when it is sold or may I place contingencies within the title contract?
You need to explain your situation a little more. If you place a lien on it that means that you're basically going to be holding a mortgage. You'll get paid off when he sells it or refinances it. If you place contingencies within the contract then the contract becomes ineffective after you give him a deed.
Thanks Lisa. Sounds like I need to lean toward a lien.
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