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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Tell me more... Posted by Ward-CA- on March 21, 2004 at 8:47 AM In Reply to: Is Partial Interest good idea in California? posted by whyK on March 20, 2004 at 11:30 PM : Hi. : Is offering partial interest deal to defaulting owner in exchange of reinstating the loan both a good idea and legal in California? I've read the code, but I am not sure. : Thanks. : -whyK ==================== I’m sure it would be legal if you follow all the requirements of CC §1695. But from a practical point of view, I don't know how good the idea is. It seems to me you’d be playing an uncertain waiting game to cash out your interest upon the sale of the property. And that would depend on the whim of your owner/partner. And wouldn’t you be faced with reinstating the existing financing frequently if you haven’t cured the underlying cause of the foreclosure? To force a sale you’d have to resort to an action in partition. Well, you’ve got me intrigued. What’s the scenario you envision making this type of deal? Have you ever done this or has anyone you know ever done a partial interest transaction? Follow Ups: Re: Tell me more... jenv 2:23 AM, 03/23/04 (0) Re: Tell me more... whyK 4:31 PM, 03/21/04 (0) Can you Elaborate on "action in partition" Lughead 11:53 AM, 03/21/04 (3) A partnership action... Ward-CA- 2:09 PM, 03/21/04 (2) What happens to the equity?? Lughead 2:21 PM, 03/21/04 (1) Profit is divvied up according to ownership percentage... Ward-CA- 4:57 PM, 03/21/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Hi. : : Is offering partial interest deal to defaulting owner in exchange of reinstating the loan both a good idea and legal in California? I've read the code, but I am not sure. : : Thanks. : : -whyK : ==================== : I’m sure it would be legal if you follow all the requirements of CC §1695. : But from a practical point of view, I don't know how good the idea is. It seems to me you’d be playing an uncertain waiting game to cash out your interest upon the sale of the property. And that would depend on the whim of your owner/partner. : And wouldn’t you be faced with reinstating the existing financing frequently if you haven’t cured the underlying cause of the foreclosure? : To force a sale you’d have to resort to an action in partition. : Well, you’ve got me intrigued. What’s the scenario you envision making this type of deal? Have you ever done this or has anyone you know ever done a partial interest transaction? Optional Link URL: Link Title: Optional Image URL: [ 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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