(or other entity).When yo go to settlement, the title company's job is to make sure the person signing the papers actually has the authority to sell the property.

This simply gets paid off at settlement.

The Real Estate Settlement Proceedures Act (RESPA) is federal law and requires the disclosure of all fees and expenses to be paid in connection with a residential purchase transaction, this is a very serious issue as it ties in to IRS issues.

Part of the settlement process is a "Lien Sheet" needs to be ordered.

If you don't want to go 10 rounds or risk them going to your landlord, consider negotiating a settlement.

Lenders will often need to have the first months interest paid at settlement and there may be 1-3 points, or 1-3% of the loan amount charged up front.

My hope and goal is that God forbid the lawsuit is awarded a settlement the most they can get is the equity in that property.Ned, I believe in NJ the law is the same you are allowed to transfer from yourself to a LLC owned by you without any tax consequences but I need to verify this.As far as the single member LLC beginning to be pierced can you elabotate on this?

My Realtor also got her signature on a "Contract to enter into a lease of Real Property" form which reads: "DEFAULT: If tenant fails to perform any of the promises on this Contract, the deposit paid or agreed to be paid by Tenant may be retained by or for the account of Landlord as agreed upon as liquidated damages, consideration for the execution of the Contracts, and in ful settlement of any claims, and Tenant shall be relieved of all obligations under this Contract."

Sierra,In DC, MD and VA you must be licensed as a title producer (aka settlement agent) with the state in order to conduct closings.

I believe you can use both for a double close, but transactional funding is usually for closings on the same day and at the same settlement/title office.