Protecting your position on a lease option - Posted by Ed SWVA

Real Estate Investing
1

Posted by Bill Gatten on April 05, 2000 at 14:56:52:

Setting up the trust (assuming its a land trust, which documents you can buy here on this site), the lender needn’t be consulted, notified or involved at all.

Bill Gatten

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Protecting your position on a lease option - Posted by Ed SWVA

Posted by Ed SWVA on April 05, 2000 at 05:23:40:

Hello everyone,

I need some advice fast.

I’m doing a deal that I’m setting up as two seperate contracts. One rental agreement and an option to purchase contract. The sellers are behind and I have a buyer that will catch up their payments on the condition that they get to rent with the option to purchase. I talked to my attorney and he said if we set up a trust, it could throw a flag to the mortgage holders. There’s a 1st & a 2nd.

How or what do I record in order to protect my tenant/buyer from having any leins placed against the property once they move in?
Any suggestions would be greatly appreciated.
Also if you know what I need to use, is there any way you could email me a copy of the form I would need to file?

Thanks in advance.

ED SWVA