Please keep in mind that all the above is what I gleaned from some classes I recently took on land trusts, and not from my having actually made such an ownership transfer.

Did you pay $41,500 Acquisition total to the previous lender and transfer the loan, assuming the risk of the missed payments and amount still owing?

Or do you buy it in one partners name, then transfer title to a partnership after?

Through this assignment agreement, you are transferring your rights to purchase the property to your buyer for a fee.

It pays out monthly until owners pass then the funds transfer to heirs.

Most lenders aren't cool with transferring the title to an LLC after closing, so it's likely we'll have to close under our personal names.

Fees of sale are: $375 (resale certificate) $225 (transfer) $850 (cap fee)6.

I transfer via ACH/wire all the time with no issues.

If the STR strategy is the only strategy that makes the property pencil, be sure to purchase in a market where the use is allowed, the use requirements are protected by in place permitting and licensing and the permissions are transferable through a sale.

So neat and precise.