(all credit to Phill for that phrasing)I understand the contract to assign the mortgage, with the new buyers name on the deed, insurance and title insurance can be done.My big question is if I am trying to do a deal with a seller (I'm not a licensed realtor or mortgage pro, just an investor) how do I get the option to purchase that property for the most minor conveyance possible...in Florida I believe that is $10 and then my ultimate goal would be to assign the contract to the new buyer, get paid an "assignment" fee, not represent either party in the transaction and help both parties get what they want in the process.I am aware of the due on sale clause but my brother works for one of the largest mortgage servicers in the US and he says we aren't invoking that clause on a performing asset..meaning as long as the mortgage is being paid, they don't care.What type of contract do I need with the seller to have a contractual and saleable interest in the property that gives me the most flexibility.If anyone can point me in the right direction I would certainly appreciate it...thanks in advance!

It should be a Special warranty Deed specifying the property is sold subject to the existing mortgage assumed, and in this case also subject to the IRS liens.A SWD can convey what ever interest you specify subject to existing liens and encumbrances of recored at the time the deed is made.And yes, as Steve points out, you can pay the IRS, clear the lien and apply that to your purchase price, if there is enough equity like I said above.The fact that the IRS lien is due to the wife's income is irrelevant, she was on title.

Question - When you purchase a property at trustee sale do the mineral rights also convey?

The PN provided principal payments to cover the expected life of persoanl property with a longer amortization for the real estate.Any time there is significant amounts of personal property conveyed with real estate, not only should the sale price be mentioned seperately, amortizations should be appropriately matched.

The Seller is generally responsible for deed prep, deed recording, county conveyance/transfer taxes and any state specific transfer taxes as applicable depending on location.

I had a friend who had oil rights conveyed by will and never knew it until he was called out of the blue.

Jon, I'm sure someone will disagree with me, but commercial loans are not written with assumption provisions unless the assignee is originally underwritten, such as a co-borrower and it is known that say a business interest will be convey later on.

I want something that conveys "i'm on your side" while remaining professional.

This involves fraudulent conveyances, an area of law where specialized attorneys can render reasonable opinions.Having property ownership in the "correct" entity to limit both inside and outside liability is a crucial first step in protecting assets.

The Court would want that sale to have an approval to ensure it was not a fradulant conveyance.