Silent Notes
Is a note with a property owner valid if it is not recorded? This would be great because then it would not appear as a second lien if I need to borrow fix up money for the rehab, right?
Is a note with a property owner valid if it is not recorded? This would be great because then it would not appear as a second lien if I need to borrow fix up money for the rehab, right?
Yes it is valid...it is an unsecured note (much like a credit card or personal line of credit).
thank you.