An Owner finance issue

[Jason Leak]

Hello BP Community,

I have an owner willing to hold the 1st on an owner financing deal. My question is who holds the docs on the deal? The owner is worried that if there would be a default on the loan he would have to go through hell and high waters to get his deed back; understandable we do not know each other. I was told that in this situation a title company would hold the deed and contract for the life of the contract which is 3 years. I am putting up 10%, he will be holding the 90% mortgage for 3 years then I will refi giving him his balloon payment. So, until I move this into a "normal" lender after the refi who holds the deed/docs? This deal is in the beautiful state of PA if this helps at all. Thanks in advance and I look forward to the clarity of the community