Home Selling in 91342>Question Details

bev.larson, Home Owner in Los Angeles, CA

on a deed of trust sale and seller carry back, does the buyer go on title before the note is paid?

Asked by bev.larson, Los Angeles, CA Wed Aug 8, 2012

This is what my Realtor set up, not using the Trustee to hold it unrecorded.

Help the community by answering this question:


yes , absolutely.. you hold the note and can foreclose if buyer defaults. if he pays he gets a reconveyance deed. You are the bank.

M Gutierrez
0 votes Thank Flag Link Mon Sep 17, 2012
There may be a confusion of terms here. If the property is being sold at auction the title passes once a bid has been accepted and satisfied. Be very careful with this...
0 votes Thank Flag Link Wed Aug 8, 2012
As pointed out below, we are not attorneys. My understand is that it could be either way depending on how the deal is structured. And there are other ancillary issues. talk to an attorney
0 votes Thank Flag Link Wed Aug 8, 2012
Wow; you just left the Real Estate room and went into the Legal room:
Realtors do not like to encroach on the Lawyer's Baliwick.

Since this is "on the fence" I will venture a guess; maybe just a starting point for you:
I think it would make no diff for now; not until the Note is paid or sold.
But it might have Liability consequences.
It might have Tax consequences.
It might mean that you couldn't use it for collateral on a loan.
And it might mean that you would need their co-operation if you tried to sell.

Other than that; no prob.
0 votes Thank Flag Link Wed Aug 8, 2012
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