Judgements Against Seller - Posted by MC

import · October 26, 2000, 4:17pm

Posted by Bud Branstetter on October 26, 2000 at 18:03:26:

If the owner put his property in a land trust he would not be selling and would not be violating a DOS clause on his loans. If it were structured as a PACtrust he would not be selling. Most judgements are good for no more than 10 years. Some adverse possessions laws in some states reduce that if the holder does not try to enforce. The trust could end when the judgements do not have effect anymore. You would still have the use of the resident beneficiary’s buy in(down payment) and any positive cash flow.

import · October 26, 2000, 4:17pm

Posted by MC on October 26, 2000 at 16:17:45:

I’m new at real estate investing, and have come across a seller who doesn’t want his home to be foreclosed. He’s willing to sell at his current mortgage payoff (1st & 2nd), but he also has judgements against him & his wife. He says they’re not against his house, and the only way he’ll have to pay them is if he makes money off of the sale of the property.

What can I do to ensure that these judgements aren’t against the house? (office of deeds, I assume)
How can I be assured that this judgement will not come back to haunt me in the future?

Thanks!!!