How we do a "subject to" deal now...

Dave,

The current way do a "subject to" deal is to have the seller transfer his title to the buyer's trust that simply uses the seller's surname (i.e. the Jones Trust) for the name of the trust. That way we have a created a sale of real property rather than a sale of personal property (the beneficial interest of the seller's trust).

So, with the purchase of the seller's real property rather than the seller's trust, we can get the regular accouterments of both title insurance and escrow...just like any other real estate sale.

This way we won't have to get an Affidavit of Sale or a Confirmation of Conveyance from the seller whenever we resell or refinance the property.

It's so smooth doing a deal this way...I don't why we didn't think of it before now.


----------Ward



Edited 1 time(s). Last edit at 09/29/2014 05:48PM by Ward-CA.