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Tina
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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Wrap note release and title transfer back to original owner,

Customer Question

wrap note release and title transfer back to original owner
JA: Where is the property located?
Customer: oklahoma ity oklahoma city
JA: Has any paperwork been filed?
Customer: not yet. ordered a title report from title company in OKC will have that next week
JA: Anything else you want the lawyer to know before I connect you?
Customer: 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: 1 month ago.
Category: Real Estate Law
Expert:  Attyadvisor replied 1 month ago.

Welcome and thank you for your question. I will be the professional that will be assisting you.

Customer: replied 1 month ago.
Hello
Expert:  Attyadvisor replied 1 month ago.

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

Customer: replied 1 month 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?
Expert:  Attyadvisor replied 1 month ago.

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

Expert:  Attyadvisor replied 1 month 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.

Expert:  Attyadvisor replied 1 month ago.

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

Available 6am to 9pm PST

Expert:  Attyadvisor replied 1 month 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?

Customer: replied 1 month 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
Expert:  Attyadvisor replied 1 month ago.

And this is in writing?

Customer: replied 1 month ago.
I have the release of lien in writing the emails saying this is what he wants
Expert:  Attyadvisor replied 1 month ago.

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

Expert:  Attyadvisor replied 1 month ago.

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