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I was wondering if my husband and I both want to be involved…

Customer Question
Hi, I was...

Hi, I was wondering if my husband and I both want to be involved in real estate is it permitted for me to put a property under contract and then either do a double close or assignment to then sell the property to my husband to manage the flip. This would be entirely disclosed to and approved by the lender who is not a bank but a private lender. The lender said they don't care if there is a transfer from me to my husband but I was wondering if you know of any reason why state/federal laws would prohibit such a transaction if all parties have been fully made aware of the entire transaction from start to finish?

Lawyer's Assistant: What steps have been taken so far? Has any paperwork been prepared or filed?

I made an initial offer to purchase a property.

Lawyer's Assistant: Where is the property located?

Wildwood Nj

Submitted: 6 months ago.Category: Real Estate Law
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Customer reply replied 6 months ago
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Real Estate Lawyer: WiseOwl58, Lawyer replied 6 months ago
WiseOwl58
WiseOwl58, Lawyer
Category: Real Estate Law
Satisfied Customers: 4,665
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Yes it is perfectly legal for you to do this. Please request phone chat and I will call you now

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Customer reply replied 6 months ago
Thank you!
Customer reply replied 6 months ago
To be clear the purchase price of the loan would be higher than the initial amount paid
Customer reply replied 6 months ago
we would be looking to get money from the first closing on the transaction as part of the loan and disclose to all parties
Real Estate Lawyer: WiseOwl58, Lawyer replied 6 months ago

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Real Estate Lawyer: WiseOwl58, Lawyer replied 6 months ago

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Real Estate Lawyer: WiseOwl58, Lawyer replied 6 months ago

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Real Estate Lawyer: WiseOwl58, Lawyer replied 6 months ago

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