Re: Kristine-CA or lukeNC Re: Deeding property - Posted by Joe Kaiser
Posted by Joe Kaiser on April 20, 2006 at 18:05:20:
If you get a deed from this fellow and that property ends up going to
foreclosure sale, no matter what you may or may not have disclosed or
agreed to, you’re at risk of getting smacked in the face with a lawsuit
bigger and badder than anything you can imagine.
That notion that you made no promise or have an agreement that you
aren’t guaranteeing anything will be of no value to you and have no
effect whatsoever when the matter comes before a sympathetic judge.
He trusted you and you lost that guy’s home in foreclosure. End of
story. He’s going to say you promised him you’d get it taken care of,
you failed miserably, and now his credit is ruined and “he’s lost
Why would you ever place yourself in that situation?
Getting a deed gets you a property and a bull’s eye on your back, and if
you don’t know and understand that, you’re setting yourself up for big
problems down the road.
Forget about the deed. You can accomplish all of this without a deed
ending up in your pocket, and doing it that way keeps you out of