My situation is that I am currently involved in a major legal battle and need to reserve my funds to be able to deal with that.

Can i use Both of them As long as the contracts state everything (terms) on them and then that will make them legal to use?

Authorized by or based on law: a legal right. b.

And do you think it would be too late to seek legal help reagring the situation with the loan officer?

Normally owning the property is a legal requirement to list a property.

The legal details are more or less the same.1st loan secured by either a mortgage or trust deed.Seller financing providing a second loan and secured by the property.I will let the mortgage brokers spell out the financing details (rates and terms).Be very careful with commercial.

You can buy new properties.You and your IRA are two separate legal entities that are forbidden from doing any business with each other.Jon

Is there any legal issues knowing that I can't afford the property without my partners and signing the contract anyway.

Say I purchase house that's for sale- can the next door neighbor file legal action to get back their 4ft by90 strip of property?

At closing B issues a Warranty Deed to A giving him legal title to the property.