Posted by John Merchant on July 02, 2005 at 14:32:54:
Private S & B can enter into any kind of REC with whatever terms are ageeable to both of them…as long as no illegal purpose is being agreed upon and that REC doesn’t infringe on any rights of any 3d persons.
Since a typical “chainstore” title/escrow office probably wouldn’t be comfortable doing the closing on any unusual or different REC, you’d likely need an attorney who does escrows and closings to handle it for you.
In fact I’d think you might want to consult that attorney before entering your agreement so he could help you formulate your plans and terms for the REC, then reduce same to enforceable legalese.