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Wrap note release and title transfer back to original owner,

Customer Question
Wrap note release and...

Wrap note release and title transfer back to original owner

Lawyer's Assistant: Where is the property located?

Oklahoma ity oklahoma city

Lawyer's Assistant: Has any paperwork been filed?

Not yet. ordered a title report from title company in OKC will have that next week

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Basics: I have 2 duplexes. Old owner is carrying the financing under his name. He also did a wrap note for the extra amount I owed him I am wanting to title back the duplexes to his name and release myself of the promissory note that I am obligated to pay

Submitted: 11 months ago.Category: Real Estate Law
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Answered in 9 minutes by:
9/7/2017
Real Estate Lawyer: Attyadvisor, Attorney replied 11 months ago
Attyadvisor
Attyadvisor, Attorney
Category: Real Estate Law
Satisfied Customers: 8,993
Experience: 30 years of experience in General Practice, Real Estate Law and Estate Law.
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Welcome and thank you for your question. I will be the professional that will be assisting you.

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Customer reply replied 11 months ago
Hello
Real Estate Lawyer: Attyadvisor, Attorney replied 11 months ago

Does your agreement state that the "Old Owner" will release the financing and release you from the note?

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Customer reply replied 11 months ago
I am unable to call this minute. What is the guarantee this will be done legally and correctly if I accept the payment fee ?I want to ensure that the promissory note is cleared and I am not liable and the title paperwork is quick claimed to OKC muni properly. Will this all be done under the $59? OR can I expect more $$ to complete this?
Real Estate Lawyer: Attyadvisor, Attorney replied 11 months ago

Please ignore the telephone call. The request did not come from me. It will be my pleasure to continue in this format.

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Real Estate Lawyer: Attyadvisor, Attorney replied 11 months ago

The Attorneys are not involved in billing nor do we have access to customer accounts. If you have any questions about the cost please contact customer service. I will provide the phone number if you do not see the link on your end.

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Real Estate Lawyer: Attyadvisor, Attorney replied 11 months ago

US/Canada 1-***-***-****

Available 6am to 9pm PST

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Real Estate Lawyer: Attyadvisor, Attorney replied 11 months ago

If you agreement states that these "liens" will be released the seller is required to clear the title. Does your agreement/contract state these matters will be released and that you will be provided with clear title?

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Customer reply replied 11 months ago
The old owner has agreed to take back the 2 properties. What is currently in place is my name on title to the 2 duplexes; the old owner is on the mortgage note. He carried financing and I have title. Also at closing June 2014, we did a small wrap note. Old owner is willing to take the 2 properties back and release the lien or wrap note to me.He has also offered that when he sells the duplexes in Spring 2018 he will pay me $10k from the proceeds of the sale
Real Estate Lawyer: Attyadvisor, Attorney replied 11 months ago

And this is in writing?

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Customer reply replied 11 months ago
I have the release of lien in writing the emails saying this is what he wants
Real Estate Lawyer: Attyadvisor, Attorney replied 11 months ago

Thank you for the clarification. What is your specific question for me?

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Real Estate Lawyer: Attyadvisor, Attorney replied 11 months ago

I will opt out of your question for another Attorney to assist you.

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