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Recent Deed of Trust questions

My grandfather loaned individuals he considers friends $50k

My grandfather loaned individuals he considers friends $50k for their home in Maricopa County AZ. When I look up their home online there is a warrant deed attached to the record stating a purchase of the home for $10 from another individual under a Warranty Deed filed by US Title Agency LLC

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Roger

Litigation Attorney

Doctoral Degree

34,248 satisfied customers
Is there a minimum term (# of years) for an "owner-financed"

Is there a minimum term (# of years) for an "owner-financed" contract? We are thinking to sell our home but want to offer only 5 years to pay the balance.JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: We are in Bexar County TexasJA: Has any paperwork been filed?Customer: no, we are only negotiating the terms with the prospective buyers who asked if we would "owner finance"JA: Anything else you want the lawyer to know before I connect you?Customer: We are thinking to charge 5% interest but make it 'variable' depending on the prime rate at the time of sale, to keep the same 'spread' We wanted to just give 5 years to pay.

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

50,214 satisfied customers
The business plan I'm developing involves selling raw land.

The business plan I'm developing involves selling raw land. I live in California but the land will be throughout the United states . I purchase the raw land and sell it to a buyer. After selling it I rent the property from the buyer in exchange for being able to buy it back at the price I sold it for.This is, essentially, a "call option" on the property where I'll profit if the raw land goes up in value. If it doesn't then I lose out on the rental payments I've made on the property.From the buyer's perspective it's a good investment because it allows them to earn a stream of income in addition to the principal being protected by raw land.I really have two legal questions:1) Are there any restrictions on how I can sell this land? My current plan is to sell it much like a homeowner should sell a property FSBO (for sale by owner) and advertise it on craigslist, fliers, and the like.2) Do I have to have an LLC in the state where the land is being held?3) What paperwork is involved in the sale of the property and the rental agreement/call option on the property? I likely will work with a lawyer to help me through this process but just wanted to understand generally what I'm going to be looking at.

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Ray

Lawyer

Doctoral Degree

39,100 satisfied customers
I received a discharge of my deed to secure a debt, Do that

I received a discharge of my deed to secure a debt, Do that mean my mortgage is satified. The business debt holder was part of a chapter 7 dischargeJA: What state are you in? And has anything been officially filed?Customer: georgiaJA: Has any paperwork been filed?Customer: yes they filed this in court as to the debt dischargeJA: Anything else you want the lawyer to know before I connect you?Customer: no

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

50,214 satisfied customers
How can I ascertain that a loan document written to include

How can I ascertain that a loan document written to include a lien on an Oregon property will be valid under CA real estate law?

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38,838 satisfied customers
There is a house in the neighborhood that has been abandon.

JA: Where is the property located?Customer: There is a house in the neighborhood that has been abandon. History: Husband/wife/kids husband went rogue wife left with kids, husband disappeared, not able to make contact Iv been trying for a year. Neighbors tell me its been abandon for 4 years. There is a company that has secured it due to homeless break in. they will not give me any information. the property taxes are back 3 yrs, What do I do?JA: Has any paperwork been filed?Customer: California, San Diego. What type of paper work?JA: Anything else you want the lawyer to know before I connect you?Customer: Is AP in order here of what do i do to aquire this property

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

50,214 satisfied customers
If a grantor retains easements, is it necessary for grantee

If a grantor retains easements, is it necessary for grantee to also grant back those easements to grantor?

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Loren

Juris Doctor

40,346 satisfied customers
I have retained an Attorney in Texas to foreclose on

I have retained an Attorney in Texas to foreclose on property that I am a note holder. I'm residing in Las Vegas, however I make frequient visits to Texas.He is asking me, after serving the first notice, to add himself as a "Substitute Trustee" to both properties I'm asking him to forclose on. He is refusing to give me an explation as to why this is necessary other than it will facilitate the Foreclosure.My question is this absolutely necessary? Why would he really want to be named an Substitute Trustee? I want to resele the properties in question and have never asked him to sell the foreclosed property. I suspect that he may be holding me hostage to filing the second notice until I sign and notorize the Trustee affidavits. I have prepaid him $2000.00 as a retainer.Can you advise.

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ScottyMacESQ

Doctoral Degree

23,778 satisfied customers
We are in discussions to do a construction project in Hawaii

We are in discussions to do a construction project in Hawaii for a general contractor. The Owner's lender wants us to sign a "Contractor Indemnity Agreement Subordination". It looks as if the lender is having the title company issue an insurance policy against any possible lien claims on the project. We have never signed anything like this and wanted to know more about it.

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Damien Bosco

Attorney

Doctoral Degree

3,748 satisfied customers
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