 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Legal Document needed but what?
Purchased a building via hard money lender, when note came due we had a friend purchase the building for us. They hold the mortgage but we make the payment and have an office in the building (its considered residential). We can't get a warranty deed because that would (could) cause the mortgage company to eslcalate the note. Need something that would prohibit them from selling it from under us if this ever go sour. HELP??
|
||||
|
||||
|
If I follow you, your friend took out a mortgage in their name on the property. So they own the property and the lender has a lien against it. What you need is a contract for sale. That states that you will pay the mortgage and when the mortgage is paid, they deed the property to you. Also that you will have the right of first refusal if they want to sell. |
||||
| Question Tools | Search this Question |
Add your answer here.
Check out some similar questions!
I am from India at present I am in USA on work visa & planning to get marry with a Canadian citizen. My partner got marry in past but now legally divorced. My marriage place will be India but I want to apply for family class immigration in USA. My questions are:- (1) Is this legally possible, I...
Ok, I'm renting a house of mine and have made an amendment to our rental agreement before the end of the contract for a one year lease was up. It states that the rent is due on the 1st wed of the month and if not received they will have 30 days to be out. This being after numerous late pmts and...
Can someone that has signed a legal document while under the influence of alcohol have that document declared null and void?
State - Illinois Is an initialled piece of paper a legal and binding document if it was signed under duress? It was not notarized or submitted through the court system.
View more questions Search
|
