Subject To And Wrap - Posted by Erik

import · July 22, 2011, 10:51am

Posted by Erik on August 01, 2011 at 09:23:18:

Ok, I did a search for ‘subject to insurance’ and didn’t find an answer. Any recommendation for what to search for?

I also did a search for ‘wraparound due on sale clause’ and found an article saying not to record. What other options are there?

The search function on the site doesn’t seem to come up with much.

Thanks

import · July 22, 2011, 10:51am

Subject To And Wrap - Posted by Erik

Posted by Erik on July 22, 2011 at 10:51:21:

Bill,
First of all concerning insurance on subject-to, is this the best way to deal with the house insurance?

Keep current policy with sellers name on it and add new owner (individual, or trust) as an additional party. Will the lender be notified of this change and will it throw up a red flag? What would be an alternative scenario?

Also, how does one avoid the DOSC concerning AITD, Land Contract or Wrap? For example I take property subject to, then sell with owner financing with a wrap, deeding the property to the buyer.

Appreciate your recommendations.

import · July 25, 2011, 6:42am

Re: Subject To And Wrap - Posted by John Hyre

Posted by John Hyre on July 25, 2011 at 06:42:12:

Erik,

There are tons of posts on these subjects. I would do a search, get some information & perspective, and narrow your questions. You are essentially asking for someone to write a massive “how to” post.

John Hyre