Posted by Jerry on October 31, 2002 at 10:07:10:
Thank you Dave, I appreciate your help.
Help With “Subj to” - Posted by Jerry
Posted by Jerry on October 30, 2002 at 12:20:20:
My partner and I are brand new to this. We just bought La Grand’s Cash Flow Generator. Does anyone know where I can find a sample of what deeding a property “subj to” looks like? What form do we use for doing this? Help??
Re: didnt that come in the coarse? - Posted by ron
Posted by ron on November 01, 2002 at 21:36:24:
i thought when you bought a coarse you got all the info. hmmm
later,ron
Re: Help With “Subj to” - Posted by Dave B
Posted by Dave B on October 30, 2002 at 13:35:23:
I have not seen the course that you described so I’m not sure how it describes the subject to deal. However, when I do a subject to deal, I use a number of pieces of paperwork to properly protect myself and my deal. To actually deed the property subject to, you need a deed. You would fill this out and have the seller sign it in front of a notary. You then go and record this at your local deed recorder’s office, which does the actual transfer of ownership.
I also use a purchase agreement, power of attorney to give me the power to take care of any issues with the property since the mortgage stays in the seller’s name, CYA letters, and a few more pieces of paperwork. However, the deed itself is what transfers ownership.
I have the seller deed the property into a land trust, which I believe is what LeGrand teaches as well. The land trust agreement and assignment of beneficial interest in the land trust are 2 more pieces of paperwork I add into a subject to deal.