All Forum Posts by: Lynn Potter

Thx for your opinions. The Deed of Trust does leave the family with power over the property, wifes side of the family. Giving any controll over the property makes me nervous, you never know, they could foreclose.

I understand a DT is easier to create, and a lien would require a court to make a judgement, (since its not a mechanics lien), but with a lien they cant take controll of the property.

Is there a tpe of lien that isnt a mechanics lien a doesnt require a court judgement?

I was hoping to be able todo a lien DIY, a DT would require help. But if the general opinion is a DT then I will need professional help.

Thx for your opinions

The debt to family is no illusion. I wish to protect their interest cause if we were to loose the property we would never be able to pay them back.

Cant sell at this time and get enough to pay back family. However it will change in the next year or two with the opening of a big new industry within a mile.

the question is still todo a DT or a lien.

Thx for the input.

Greetings,

We have an investment property that is not officially unencumbered, we borrowed money from a family member a few years ago, we were supposed to make payments but have not been able to, the family is ok with this as long as the loan gets paid back. Given that this property looks like a open opportunity for a person to sue us, we would like to officially encumber so that it shows on county records. We are in California, we do trust deeds out here or we could do a lein. I dont know the best way to go about this. If its a loan without interest, Im told, the IRS will see this as a gift, and want taxes. Any suggestions? thanks to all responders.