You can do that but to be safe always use a third party collection company to make all the payments to...The original seller is always responsible for all debts on the property...But when we take it Sub2 were not going to trust them to make paymentd...

You probably already know that NH municipalities can't sell their liens to private parties.

You may well need a servicer too if it's not a commercial loan.I'm betting what the compliance guy wants to see is a way to reach out and touch the party(ies) involved in the collection of any debt, you're out of state.See your attorney........good luck :)

Okay, that last part is an exaggeration, but he is a smart real estate agent and an investor as well.

Also, you may be required to give notice to both the tenant and the housing authority in a particular manner.You should do everything possible to make the move go as smoothly as possible for all parties involved.

The problem is no one can tell you what you need to be sure you're covered from one another without all the info;What is the % split, is that % based on cash invested or is there a different % split for financial and ownership, what about selling if you both can't agree, what about if one dies, what is your financial situation, what is your partner's financial situation, who in your life may lay claim to this asset, who in your partner's life could lay claim to the asset.....the list goes on.Point being to make sure you don't end up back here with a thread about a partnership gone wrong (as others have), you need someone that is an experienced 3rd party to ask the correct questions so there are no questions down the road.

Two parties agreed on the terms and signed it.

Then when you go to get the deed release if there are issues your attorney should be able to file suit if need be.You should have an attorney draft up a mortgage agreement between the two parties to solidify this deal.

He can really point out the beauty of seller financing to both parties, and they offer lots of seller financed deals.I'm going to send you a PM right now with his contact details.

most listing agreements can be unilaterally cancelled by either party at any time.