Re: Land Contract vs. - Posted by phil fernandez
Posted by phil fernandez on February 18, 2001 at 17:57:14:
I would prefer the Subject To deal cause I’d be getting the deed. With the Land Contracts or Contracts For Deed that I’ve seen, you don’t get the deed until you have successfully fulfilled your agreement with the seller. At that point you’d get the deed. Sure the deed would be in escrow with a 3rd party on a Contract, but I still like having the deed in my possession.
Of course many sellers are going to be reluctant to give you a deed with a Subject To, so it becomes a situation where I’d certainly take the Land Contract as long as the deed was placed in escrow.
The titling of the Land Contract could be handled the same way as that of a Subject To deal. With both you could have your seller deed the property into a land trust with himself as the trustee. And then give you the beneficial interest in the trust.