cashout - Posted by noshyguy
Posted by noshyguy on June 23, 2005 at 01:05:36:
I invested in a SFH with a partner in Lake Tahoe, California a few years ago. He has refinanced and is buying my share of 30% (vs his 70%). I live several hours away and would prefer to do this w/o the drive over and back. My partner’s title company suggests I write a letter of instruction indicating that the grant deed is subject to the title company wiring my consideration to my account. What worries me is the original grant deed sent to me by the title company for me to sign and notorize states: “For valuable consideration, receipt of which is hereby acknowledged…” Again, I have not yet received the money yet I am presumably signing over the property to my partner. Is the title companys solution legitimate and legitimate and safe? If not, whats my best course of action? Thank you.