Are Assumption Agreements Recorded?
I sold a property that had a privately held mortgage which my buyer assumed.
Does this assumption agreement get sent to the Courthouse to be recorded like a deed would?
Thanks-DD
I sold a property that had a privately held mortgage which my buyer assumed.
Does this assumption agreement get sent to the Courthouse to be recorded like a deed would?
Thanks-DD
the two parcels not affiliated with the loan were aquired after i bought the home under much nagotiations with neighbors........they are not assumable with the loan
flintlc,
My suggestion is you consult with a real estate attorney.
Nancy
i cannot afford on
I am reading a very informative and helpful book that you may wish to go purchase. I am only promoting this because it has been very helpful to me and cheaper that consulting with a CPA or Atty. It is called "Real Estate Investing Loopholes" and pg 65 discusses the advantages and disadvantages of incorporation. It states that without incorporation you run the risk of losing your personal assets if you are sued and found liable. Also on pg 72 it recommends using an S-corp business structure for flipping properties and discusses the advantages. This book is wriiten by a CPA for investors. You should check it out. Good luck with your endeavors.