Recording A Warranty Deed On Sub2.
Hi, i was wondering when i put a property in a land trust and have the seller sign over ben. rights and warrantie deed the property to myself as the trustee is the deal binding only when i record this deed? I ask this because i was told that when haveing the seller deed over the prop to the trustee, this is when i should have the POA, and notice to release forms signed. basically i want to make sure that i have good title to the house before i make a binding contract. should i put in the purchase and sale contract that the deal will be subject to me getting clear and good title(no-brainer)? or should i have the POA, NTR forms done before i do anything? i just dont wont to be stuck in a situation where the seller claims i own the prop. and i dont have clear title. any insight would be lovely. thanx Jeb. sorry if i wasnt clear but im trying to say that if i have the POA and NTR forms signed when title is transfered to me then i wouldnt have been able to do a title search yet.
[ Edited by lukabrasi on Date 06/26/2004 ][ Edited by lukabrasi on Date 06/26/2004 ]
The Property isn't yours officially until your deed is recorded. Do your due dilligence, then record the deed, You'll be fine.
"...good title to the house before i make a binding contract"
You'll never have title before there is a binding contract. That's why there are atty, escrows, closing agents.
You lay down your card
seller lay down theirs
SWAP!