Comments on: Land contract question? http://taxlieninvestingnews.com/questions-and-answers/land-contract-question/ Current news on Tax Lien Investing Sun, 20 May 2012 16:11:40 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Realtor Jim http://taxlieninvestingnews.com/questions-and-answers/land-contract-question/comment-page-1/#comment-125 Realtor Jim Wed, 24 Jun 2009 09:20:41 +0000 http://taxlieninvestingnews.com/questions-and-answers/land-contract-question/#comment-125 Whoa! Something ain't right here. Put a deed in escrow? Does that mean the estate holds the deed until the heirs pass? Bad idea.....once the owners pass on, you could have other 'heirs' come out of the woodwork and try to lay claim to the property. You need to a. record the deed (forget about the taxes doubling. You stand to lose a lot more if you don't) and; b. record the mortgage. You need to have a lawyer write this up for you. It shouldn't be that expensive and he can make sure your investment is protected. If the paperwork is not done correctly now, you may not get a bank to even look at it when the time comes for you to refinance. Whoa! Something ain't right here. Put a deed in escrow? Does that mean the estate holds the deed until the heirs pass? Bad idea…..once the owners pass on, you could have other 'heirs' come out of the woodwork and try to lay claim to the property.

You need to
a. record the deed (forget about the taxes doubling. You stand to lose a lot more if you don't) and;
b. record the mortgage.

You need to have a lawyer write this up for you. It shouldn't be that expensive and he can make sure your investment is protected.

If the paperwork is not done correctly now, you may not get a bank to even look at it when the time comes for you to refinance.

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