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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] A money transfer isn't an exclusive requirement... Posted by Ward-CA- on July 28, 2010 at 8:15 AM In Reply to: posted by redave on July 28, 2010 at 7:28 AM Dave, Not at all. For example, the value of services rendered can be reduced to a dollar amount that's secured by a recorded trust deed or mortgage. And yet there wasn't any actual transfer of money involved. Another example is the extension of credit where a seller agrees to carry back from a buyer the unpaid portion of her equity in the form of a promissory secured by a recorded trust deed. ----------Ward ===================== : Hi Ward, : The article "Trip Wires" suggests making a loan without actually transferring money from lender to borrower. I read somewhere money must actually transfer to have a valid lien. Is that your understanding? : Dave Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Dave, : Not at all. : For example, the value of services rendered can be reduced to a dollar amount that's secured by a recorded trust deed or mortgage. : And yet there wasn't any actual transfer of money involved. : Another example is the extension of credit where a seller agrees to carry back from a buyer the unpaid portion of her equity in the form of a promissory secured by a recorded trust deed. : : ----------Ward : ===================== : : : Hi Ward, : : The article "Trip Wires" suggests making a loan without actually transferring money from lender to borrower. I read somewhere money must actually transfer to have a valid lien. Is that your understanding? : : Dave [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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