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Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 7404
Experience:  Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
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What wording is needed to use a straw man in a real estate

Customer Question

what wording is needed to use a straw man in a real estate transaction
Submitted: 11 months ago.
Category: Real Estate Law
Expert:  KJL LAW replied 11 months ago.
Good afternoon.
Expert:  Irwin Law replied 11 months ago.

Good afternoon. A different expert here, and I will assist with your question. "Strawman" is not a legal term, and there is no wording to establish that fact. Once you put that person's name on the deed, they own the property. Therefore, any agreement that you have with them must be set out in detail in writing, signed and perhaps even notarized.

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Customer: replied 11 months ago.
we are not talking about putting the name on the deed....just using it on the contract....and once the contract is negotiated and ratified....assigning it to another person...i understand this is legal
Expert:  Irwin Law replied 11 months ago.

It is legal. The way it's done is to put the Strawman's name on the contract, but in the contract there is the right to assign and transfer the contract to another party without the consent of the seller. On a cash deal that shouldn't make any difference to the seller. it's just a matter of paperwork and being sure that the seller understand that the deed that they sign will be to someone other than the one whose name is ***** ***** contract.

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Expert:  Irwin Law replied 11 months ago.

Hello again. I hope that I have provided excellent service and, if so, would love a 5 star rating. If not, please let me know how I can further assist you. There is no additional charge to you for rating me. A bonus is not required, but is always appreciated.

Thanks again for using JUST ANSWER.