Expert, localized Los Angeles answers provided by Heather Roy

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Bought Two Lots

  I just purchased 2 lots with owner financing on a standard purchase agreement. How can I attach my name to the deed to avoid any problems if the owner dies or attempts to resale without my knowledge?
 
 

Unless you have a deed to those lots, you haven't purchased them yet.  You've probably just signed an agreement to buy them.  When you give over your money, and sign a mortgage document to pay the rest, you should receive a new deed naming you as the new owner. 
To avoid any problems in the future, that deed should be taken to your county's public recording office, and entered in the public records.  After that, the whole world has been informed that you own the lots.

    Edith
Originally published on March 7, 2008
 
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