My process involves two steps.

.- The whole process is simplified—no co-ownership legal headaches.I’m curious about the pros and cons of something like this.

I am looking to make a couple connections now during the moving process.

Hopefully any BP members in the LA situation can benefit from the thought process.  

Feel free to send me a message if you have questions, but in case you are interested in learning more about the private lending process here is a link to the book: https://store.biggerpockets.co...

This was found off market, we have developed a process to find off market deals.

I wanted to offer him about $50K over what is remaining on the mortgage and go through the 60-90 day process to assume the existing mortgage.

The reason you see a person’s name and all their entities listed in a lawsuit is because Plaintiff (the suing party) attorneys have to list everyone and every entity that can be remotely tied to a cause of action, otherwise, if enough time passes and through the legal process discover that a separate entity or just a person was truly liable and they didn’t name them in the lawsuit, they are out of luck.

Am I missing anything significant in this thought process? 

@Grace Chee The process for this is time sensitive, you should have gotten a TRIM notice around late August, early September.