Recording an Option - Posted by Brian M. Powers(MI)

import · January 23, 2002, 1:10pm

Posted by Brian M. Powers(MI) on January 24, 2002 at 12:49:39:

Thanks Bill…one more point of clarification please:

Are you referring to the “AFFIDAVIT AND MEMORANDUM OF AGREEMENT CONCERNING REAL ESTATE” when you say Memorandum of Option
Do I record the Mortgage and the “Perfomance Rider” when filing a Performance Mortgage?

Thanks a Million!
BMP

import · January 23, 2002, 1:10pm

Recording an Option - Posted by Brian M. Powers(MI)

Posted by Brian M. Powers(MI) on January 23, 2002 at 14:10:42:

I am buying a house on a L/O and am using a Pro-Buyer Lease Option Agreement (the one that came in my Alt. RE Financing course by William Bronchick, with a few “Michigan” clauses added to it).
When I record my option for protection of my interests do I record a seperate Option to Purchase Real Estate, and keep the Lease-Option agreement between just the seller and I?

Thanks!
BMP

import · January 24, 2002, 8:16am

Re: Recording an Option - Posted by William Bronchick

Posted by William Bronchick on January 24, 2002 at 09:16:09:

No, you record just the memorandum of option, and, if the you can negotiate it, the performance mortgage.