Posted by fuzzy on March 06, 2006 at 23:32:03:
Indeed pro-se is perfectly “legal” but are you willing to endure all the headaches and hours upon hours of research? Many good “how to” books (no seminars that I know of tho…) seriously try your local college and seek out an ambitious law student or even a trained para-legal. It’s wise to heed that only a fool represents themselves.
Bill or John - Are we commetting a Crime? - Posted by REG/VA
Posted by REG/VA on March 04, 2006 at 03:36:21:
I buy this property Sub2 and take the paperwork to an attorney to get the title done and he says what I’m doing by creating a warranty deed and closing myself(no hud 1) is a criminal act. Says I’m practicing law without a license. Stop being a criminal, go to college and become a lawyer.If someone (an attorney) wanted to draw attention to me that person or persons could call CRESPA.
Just alittle confused on what we can and cannot do as investors.
By the way I’m a student of yours Bill and have several of your courses.
Thanks REG/VA
Re: Bill or John - Are we commetting a Crime? - Posted by Natalie-VA
Posted by Natalie-VA on March 05, 2006 at 08:53:43:
Reg,
What you’re doing may not be illegal, but when you do business in certain ways, people may raise their eyebrows at you. I’m sure your method is totally legitimate, but why don’t you consider protecting yourself further by having an actual settlement at an attorneys office or other settlement agent?
I think you’re creating unnecessary risks by doing it yourself.
–Natalie
No crime. Your lawyer’s a nutcase - Posted by John Merchant
Posted by John Merchant on March 04, 2006 at 20:26:05:
No, your lawyer’s full of it.
Anybody can do anything in the way of paperwork, document drafting, litigation, ANYTHING else legal for himself.
“Pro Se”, this self representation is called, and is done daily all over the USA, with no hired lawyer necessary.
And buying Sub-to is very common and very legal as Bill B has clearly stated in his great article “No Due on Sale Jail”.
Look at articles here or in Google, under this exact name and you’ll find it…I’m not remembering if BB put it here or another REI site but you’ll quickly find it.
No HUD 1 is even necessary in this kind of deal as you’re not borrowing any money.
Don’t know what CRESPA is but trust me, you just don’t need to worry about anybody’s calling anybody, as long as you’re doing this for yourself.
That lawyer you saw is some kinda nutcase and I’d avoid him from now on.
For a good form, go online to your county recorder and you’ll find lots of good Deed forms which you can just copy with the right info for this deal.
Re: Bill or John - Are we commetting a Crime? - Posted by REG/VA
Posted by REG/VA on March 05, 2006 at 10:42:10:
Thanks for your suggestions Natalie in reference to drafting the documents in the business. But according to my understanding of corporations it is a legal person. That means to me it can be the buyer and/or the seller free to do all of the same as you and I as individuals buying and selling properties.
Any feedback would be appreciated.
REG/VA
Where in Va do you conduct business, I’m in Rich., VA.
Re: No crime. Your lawyer’s a nutcase - Posted by Natalie-VA
Posted by Natalie-VA on March 05, 2006 at 08:50:24:
John,
Would your answer change if he’s doing business as a corp or llc?
I ask this because I once had an attorney not accept a deed that I prepared for my corp. He said I could prepare it for myself, but not my corp.
–Natalie
Re: No crime. Your lawyer’s a nutcase - Posted by REG/VA
Posted by REG/VA on March 05, 2006 at 03:01:38:
Thanks John for the quick response. Just for FYI here is a link to the VA Legilation or I think the General Assembly Site
http://dls.state.va.us/pubs/summary/1999/SUMM994.HTM
Well here is a Brief of what it states:
SB1278
Real estate settlement practices; real estate settlement agent registration. Establishes the Real Estate Settlement Agent Registration Act, governing the qualifications and financial responsibility obligations of persons conducting real estate settlements not covered by the Consumer Real Estate Settlement Protection Act (CRESPA). Under the provisions of this bill, lay settlement agents (defined as a person who is not a licensed attorney or a party to a real estate transaction and provides closing or settlement services in a real estate transaction) must comply with the requirements of CRESPA.
Patron - Barry
Re: Bill or John - Are we commetting a Crime? - Posted by Natalie-VA
Posted by Natalie-VA on March 06, 2006 at 14:29:08:
Reg,
I’m in Virginia Beach. I agree that the corp is a separate legal entity. I think that an attorney could argue that you (personally) cannot perform certain legal functions for the corp as it would be considered unauthorized practice of law. That’s why I asked John if his answer would change if you were doing business in a corporate name instead of personally.
I hope this makes sense.
–Natalie
Re: No crime. Your lawyer’s a nutcase - Posted by John Merchant
Posted by John Merchant on March 05, 2006 at 09:31:17:
Depends on your state’s specific statutes and rules on what Pro Se practice includes.
Several that I’ve briefed now state that if an unlicensed individual is doing the law practice for his own LLC, no problem, and he can even appear in court for it…as the LLC is really no more than an alter ego for himself.
So your state might or might not have this statute or rule for a Corp.
But I’d recommend going ahead and doing it, as the Unauthorized Practice Committee of your State Bar isn’t going to get very incensed or upset about one individual doing his own deed, note or deed of trust.
That would be so far under their radar they’d have to have a humongous number of such before they’d even convene a meeting.
If you can’t find the forms for your first deal, find some young lawyer and pay him/her a few bucks for your first deed, note, whatever…and then that form is yours to copy and repeat as you might need.
Re: Your lawyer’s a nutcase/ How Right You Are - Posted by REG/VA
Posted by REG/VA on March 05, 2006 at 03:15:15:
CRESPA FAQS
And here the link to this site:
http://www.scc.virginia.gov/division/boi/webpages/inspagedocs/crespafaqs.pdf
I guess he doesn’t like the fact that I know how to close a tranaction myself and he loosing money.
Thanks for your support in helping keep the confidence of this investor high.
As they say “Boom Baby Lets Go Get Another One”
REG/VA