The wrong name is put on an instrument or a name is misspelled, the wrong legal is used, the docs get recorded in the wrong county etc. 

To address the long-standing question and mythical answers of "can I quit claim into an LLC" the answer is yes, BUTUnless the previous borrower requests a release of liability, the servicer must process the following exempt transactions without reviewing or approving the terms of the transfer:a limited liability company (LLC), provided thatthe mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, andthe LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements.Here is where this can be found under Fannie's Guidelines:  https://servicing-guide.fanniemae.com/THE-SERVICING-GUIDE/Part-D-Providing-Solutions-to-a-Borrower/Subpart-D1-Assisting-the-Borrower-with-Property-Related/Chapter-D1-4-Transfers-of-Ownership/Section-D1-4-1-Information-Relating-to-Transfers-of-Owner/D1-4-1-02-Allowable-Exemptions-Due-to-the-Type-of-Transfer/1041300841/D1-4-1-02-Allowable-Exemptions-Due-to-the-Type-of-Transfer-09-09-2020.htm?

touchpoint=guideHere is the language:Unless the previous borrower requests a release of liability, the servicer must process the following exempt transactions without reviewing or approving the terms of the transfer:A transfer of the property (or, if the borrower is an inter vivos revocable trust, a transfer of a beneficial interest in the trust) toa limited liability company (LLC), provided thatthe mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, andthe LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements.For a mortgage loan acquired by Fannie Mae after June 1, 2007, if a servicer reasonably believes that a due-on-transfer provision is unenforceable by law or would not be enforced by a court, the servicer is authorized to approve a transfer of an interest in the mortgaged property or a direct or indirect interest in the borrower (if an entity), provided the servicer has notified Fannie Mae’s Legal department (see F-4-03, List of Contacts) of the reason for its belief and Fannie Mae has either sent a notice of non-objection to the proposed transfer or not responded within 60 days of its receipt of the notice.The servicer must notify the applicable property insurance companies, tax authorities, the mortgage insurer, and any other interested parties when it processes a transfer of ownership.

James Kats is a Sioux Falls Investor and Agent and has been instrumental in this process.

When you have a chain assignment of 10 different lenders, the mistake gets amplified and each AOM needs to be corrected.At least for Polk County where I'm at, the assignments don't reference the legal description, but it does reference the original mortgages Book and Page, and sometimes the instrument number from the original mortgages recording stamp.

A security is any investment instrument besides insurance or annuity.

I'm not a Real Estate investor yet.My primary motivations are: to diversify out of 100% financial instruments, to take advantage of depreciation expense on my taxes with rates due to increase, and to build wealth.I am willing to suffer lower returns to eliminate hassles.I am very suspicious of gurus and get-rich-quick schemes.I'm trying to find someone I can trust to help me find properties and someone to be my Property Manager.

The property reverts back to the bank with a certificate or similar instrument.

At least one borrower must occupy the property and sign the security instrument and the mortgage note for the property to be considered owner-occupied.Handbook 4155.1: 4.B.2.a-bFAQ: How does FHA define owner occupant?

Would he collateralize one of his 10 other assets as a security instrument for your capital.3) 50-50 Split is a little bit generous to the operating entity in my opinion.