These clauses deviate from common RE practices and I would advise further scrutiny by a Real Estate Attorney to safeguard your parent's interest. 

@Alex Breshears You may want to check out AXYLUM "AXY Wrap™, acts as a safeguard for retail and wholesale private lenders.

You are also held to strict reporting times for adverse action letters, data storage requirements, and safeguarding of sensitive information.

Installing cameras is an excellent way to safeguard your property and tenants.

Definitely talk to the lawyer drawing up your paperwork about safeguards to put into your agreement, and understand the risk you're taking.

We don't record the JVs or liens we might have to safeguard our JV partners.  

I want to be able to safeguard my family’s future as best as I can while I can.What is my target investment?

If you live far away, professional property management is an extra expense you simply must incur to safeguard your investment.Experienced builder and property manager Rusty Meador notes, "No matter how good of a real estate deal you find, it is only as good as its ability to be managed well."

My main concern is - how to be safeguard myself if owner is not honest enough to mention other loans on the deed?

Obviously I would get the funds in certified form, but is that enough of a safeguard?