Re: legal questions - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on September 02, 2003 at 11:51:23:
Or is that Sunny? As in Sunny CA or in getting a great deal is a sunny deal?
Anyway, I am glad to see that you mention getting an attorney.
You need to either read the equity sales statute or you need to have an attorney who has done so help you.
I’m assuming that this property owner is also the occupant. If that is not true, the following is not true.
You can get a quit claim deed. You just cannot get it immediately. You have to sign a contract to buy the property and can give NO “consideration” to the seller for a minimum of five days. The contract has to have specific wording, which is in the law, in specific type faces and type sizes, specified in the law. An ordinary purchase agreement, even that of CAR is not adequate.
You can get a purchase agreement which meets the law from “First Tuesday,” a publication in Riverside, CA.
Good InvestingRon Starr******