How does this help the seller? - Posted by Sid

Real Estate Investing
1

Posted by Sid on June 02, 2000 at 18:46:10:

Thanks Stacy!

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How does this help the seller? - Posted by Sid

Posted by Sid on June 02, 2000 at 18:09:00:

If a seller is facing a pending lawsuit and I come along and take his property subject to and I use a land trust to take title, does this protect him and if it does , How? I just don’t get this.

Would a Lease Option on that same property protect him also?

I hope you guys can explain this issue clearly.

Thank You, Sid

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Re: How does this help the seller? - Posted by Stacy (AZ)

Posted by Stacy (AZ) on June 02, 2000 at 18:41:20:

As soon as he signs the deed over to you (or your trust) he no longer owns the property. Can’t attach a judgement to something he doesn’t own.

A lease option won’t work. The deed is still in his name, meaning he still owns the property.

However, if it looks at all like he signed over the property just to avoid having it attached, I doubt it would hold-up (if challenged).

Stacy (not a lawyer)