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Updated over 5 years ago on . Most recent reply presented by

Account Closed's profile image
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Account Closed
  • Rental Property Investor
  • from Yuma, AZ
  • Member since Jun 14, 2019
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Account Closed's profile image
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Account Closed
  • Rental Property Investor
  • from Yuma, AZ
  • Member since Jun 14, 2019
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Account Closed
  • Rental Property Investor
  • Yuma, AZ
45
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Tax, SDIRAs & Cost Segregation

Do I need an "all exclusive promissory note"

Account Closed
  • Rental Property Investor
  • Yuma, AZ
Posted

When you pay someone's mortgage, do you use an"All promissory Note"? I read its a document that tells the seller that you agree to pay all of their liens. But, im not sure if a mortgage is considered a lien.

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Chris Seveney
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  • from Virginia
  • Member since May 23, 2015
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Chris Seveney
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Chris Seveney
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Chris Seveney
  • Investor
  • Virginia
ModeratorReplied

I have never heard of that type of note before - most things are “all inclusive” not all-exclusive. I have heard of all inclusive notes but those are specific to California. That is why I asked what is it you are trying to accomplish. 

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