I will be looking to transfer all my funds out of them as soon as possible.

The transfer from one spouse or ex spouse to another is not taxable under the section 1041 exchange.As long as the property was the primary residence of one of them then there is no gain on the sale up to 500k of gain of they remain married through the end of the year.

Justin Cutler its a common misconception that only an actual transfer of title violates the DOS clause.

The most straight forward way to transfer the property is with a Quit Claim deed.

They only capture lead's information, then transfer call to me.

I am trying to figure out when a sub 2 deal is executed, is the equitable title of the Mortgagor/borrower transferred to the sub 2 buyer?

Biggest takeaway-Make sure to use sound barrier caulk between the ceiling and wall, NOT drywall mud so that the sound vibrations do not travel easily to the wall thus transfering the sound and you hearing it there instead.

@Luis Cabus@Darrell Shepherd thanks for the shout out.Every state has different issues.Dodd Frank and the cfpb have placed restrictions on owner financing, abilty to repay rules.I would, if you are starting, get a real estate license, help sellers sell and get a commission, or do a lease with option with the seller as a principal buyer and assign the deal for a fee, but be licensed in IL.There are land trusts, which places the property in a property trust, and if the seller has a living trust, and dies, if the LO property is transferred to the trust, the subject lease option property escapes probate.There is more info on my BP Blog https://www.biggerpockets.com/blogs/3-reiskills-an...

Technically we still use both because we haven't gotten all files transferred into App Folio yet.  

Working on talking with a tax pro on all this looking more for personal experiences on seed some $$$ in acct vs scheduling a $$$ transfer each month to a personal acct that still pays the mortgage. it just seems easier to put 2-4K in the account to start now and reduce the paper trail?