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Is this a deal?

This topic contains 5 replies, has 0 voices, and was last updated by Avatar of dgoldston dgoldston 14 years, 6 months ago.

Viewing 7 posts - 1 through 7 (of 7 total)
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  • #733
    Avatar of dgoldston
    dgoldston
    Member

    I’ve become aware of a property that was sold by a home owner to an investor about 24 months ago.

    #10886
    Avatar of thbmusic
    thbmusic
    Member

    dgoldstone:

    this may or may not be a deal. But whether or not it’s a deal, you have a title issue that you have to resolve. Sounds like title was transferred to a trustee (presumably identical or closely related with the “investor”). Only the trustee can convey title to the property now. So you would have to find the trustee and ask them what’s going on. Probably this will be just as difficult as finding the investor. The original owner could possibly file a “quiet title action” to have the transfer of title to the trustee removed from the property. At the same time he would have to bring and keep the loan current if that’s still possible.

    All said, this would be too risky to get your money involved (in my opinion), until you KNOW that the original owner is in a position again to have control over the title to the property.

    At that time you could structure a deal using a NEHTrust (assuming that the owner still wants to deal with any kind of trust).

    Maybe it would be easier to buy the property at the trustee sale…

    Cheers,
    Thomas Bartke

    #10887
    Avatar of jim_pasquini
    jim_pasquini
    Member

    Thomas is spot on.

    #10888
    Avatar of Administrator
    Administrator
    Keymaster

    Right on with your comments Jim…
    It shows you that however this trust was structured is not anything like an Pactrust or EHT trust.
    It goes to show you when one party loses control or can be unfairly taken advantage of as is obvious in this case it most certianly will happen.
    I am wondering how this investor was able to warranty deed title to the trustee unless the homeowner unwittingly was duped by this scam artist into quick claiming or grant deeding him his property..???
    That is what I love about Bill’s system,so I can say with full confidence hey mr seller the title for your property is going to a 3 rd party trustee not me!!
    That is what scares me regarding doing subject 2 type investing is

    #10889
    Avatar of dgoldston
    dgoldston
    Member

    Thanks for the replys.

    #10890
    Avatar of jim_pasquini
    jim_pasquini
    Member

    If you can find the trustee they can find the investor.

    #10891
    Avatar of bigdaddy
    bigdaddy
    Member

    The title company may work to your advantage here.

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