However if your mortgage is from a different lender, they dont have access to your day to day balances.Its also pretty important not to build up additional debt or debt accounts while in the midst of a refi. the numbers you gave your mortgage specialist off the beginning should remain accurate through to closing.

Is anyone in the Legacy Capital Group debt or debt/equity funds? 

I am a retired tax attorney so I always think about how to save on taxes because I saw how such a structure can make a huge difference today and in the long run Since I retired relatively young I wanted freedom, no hassles and safe long term income Btw I retired relatively young (many years ago) thanks to investing in real estate and paying usually no more than 15% in tax to compound my returnsSo my suggestion to you, if and when you inherit the $10mil net is:1) Move to Puerto Rico (best tax incentives for US citizens and Carribbean weather plus direct flights to many US cities inexpensively) 2) Invest in the funds there that deal with historic properties 3) you will make 8% tax exempt income per year with no tax, no hassles, and no problems Way better than municipal bonds or anything else You can private message me and I can share with you how I have done it and where Btw I would not do flips (too much work)I would not buy Apt Bldgs (too many hassles) I would stay away from cold places and move to Carribbean weather or at least a warm place like California PR Florida of Puerto Rico is not so exciting for you I would certainly stay away from any direct debt or leverage and just enjoy health through good food, sleep and exercise and happiness through positive goals and good relationships All the best

For buyers, it can be a savvy financial move, allowing them to pay off outstanding credit card debt or use the extra cash for home repairs and renovations.

But since most debtors don't know their rights, they end up letting debt collectors walk all over them.Make your business decision about whether to settle or to fight (my default is to fight).

How would you go about assigning the value to what you offer which is more subjective compared to actual dollars committed (could be equity or debt or a combination to your partner)? 

Trying to figure out how to hide an asset from a debtor could also imply fraud. 

Keep in mind that, depending on the jurisdiction, creditors/plaintiff attorneys can find a way to satisfy a judgment by garnishing wages, seizing a bank accounts/tax refunds, and/or ultimately placing a lien against the debtor's property and waiting it out.

One is to run the Title Search on the property to make sure there's no liens on the property (so you can be in 1st position) and then you need to create a Note in Mortgage which the debtors will sign and get Lender's title insurance and finally have your name put on the hazard policy as the mortgagee.  

You can however, buy a property with a downpayment from your IRA and get financing for the rest BUT it has to be non-recourse debt or in other words you cannot sign personally for the note.