Originally posted by Account Closed:@George Voutsinos The seller will be the lien holder, and a great return is good but did you show any proof that you can make the payments. 

I would like help in understanding if a note could be a vehicle for us to get some cash out of a house without selling or refinancing it.I understand a note is basically a mortgage or land contract that someone is making payments on, and is bought at a discount for the value of the payments or the property.We do not have a note to sell as such but do have a property with no lein holders on it.Here is my situation.

Seller portrayed the image that she was the deed holder personally nothing about assignment was mentioned even sent me a contract from her company.

AFAIK, the only way lending instiutions will actually give PAYOFF amounts is throught the loan holder and a title search won't reveal it.my guess is they are giving you the equity "estimates" based on what therecorded loan amounts are at the register of deeds...thats how it works in NC anyway...

Keep in mind you may also need to check for judgements against the owner or other records.In your case it may not matter but judgement holders have a claim against titled properly in most if not all states.

This can come from lenders such as self-directed IRA holders.

Does this mean IF I sell 49% of my LLC to investors, the asset will not be reassessed because I'm still the majority share holder so there's essentially no Change in Control or Ownership?

One of the lien holders is the local water company.

In many cases, an immediate family member who has lived in the unit for the previous 24 months can assume the rent-controlled lease in the event the primary lease holder passes away.Also, just to be clear, the unit is rent controlled, not rent stabilized?  

After the Sheriff sale, it goes back to the note holder if nobody else wants it.