The compliance falls on your business entities, each one.Your partners are basically table funding as lenders if they are buying the note at settlement. 

They do real estate settlements and would know who to use.

She was supposed to get a settlement from her X, but he has yet to pay.  

Yep, after you learn the principles of real estate, you know, the stuff that doesn't promise you'll make a million by Christmas, just the basics, like what real estate is, why it is unique, what rights of ownership there are, types of deeds, title, what title insurance is, how property is valued, what liens and encumbrances are, how to read a legal description, what bilateral and unilateral contracts are, what is necessary in a contract, what a leasehold interest is, how settlements are accomplished and the laws surrounding transactions. 

The property will be sold subject to all conditions, liens, restrictions and agreements of record affecting same including any condominium and of HOA assessments pursuant to Md Real Property Article 11-110.TERMS OF SALE: A deposit of $28,000.00 payable in certified check or by a cashier's check will be required from purchaser at time of sale, balance in immediately available funds upon final ratification of sale by the Circuit Court of PRINCE GEORGE'S COUNTY, MARYLAND interest to be paid at the rate of 6.25% on unpaid purchase money from date of sale to date of settlement.

There is the acquiring property identification period of 45 days and there is the acquiring property settlement period of 180 days, which run concurrently.

Make sure you are getting credits for rents and security deposits at the time of close, should show up on the settlement statement.Good Luck

Is it being auctioned off as part of an estate settlement?

It is the title companies job to check this out and it will be on the Hud-1 settlement statement.

A purchase contract simply outlines the terms of the transaction, settlement date, how funds will be transferred, title coverage, escrows, insurance on the collateral, taxes due and/or current, servicing requirements and the description of the obligation, it's price and amounts remaining due.