Question About Notes

For some reason, my post keeps getting deleted so let me rephrase the question.

If a seller creates a note, but does not record or transfer the deed to the buyer, Can the note be sold without any issues?

Thanks

Comments(2)

  • sanjosee29th March, 2004

    If someone were to try to sell me a note that does not have a recorded deed of trust. I would treat it as an unsecured note & price it accordingly. If there is a deed of trust that just hasn't been recorded, I would record the deed & find out if , how many if any any other deeds were recorded senior to the note.

    So to answer your question, your note can be technically can be sold, but it's value to a buyer would be greatly reduced without the recorded deed of trust.

  • JohnMerchant29th March, 2004

    To put the question succinctly:

    Would YOU buy a note without any real security?

    If so, have I got a jillion deals for you!

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