If he signed the lease then all parties would need to sign a lease amendment releasing him from the lease.  

Sorry, but my response would be, "shove it, your check will be ready at my office, and you get it after you provide the executed, notarized final release.  

subject to existing loan, right of possession with delayed settlement date (5years) with release of liability and right to assign" nowFind a contractor or handyman to assign your contract to, ask for an assignment fee, $5,000, that should buy you a good lunch.I have used this technique many times here in Maryland when there is no equity, the seller is underwater and willing to walk from the house. 

I believe typically you get financing for the building which will allow partial releases as you sell the units, at a preset percentage pay off per unit ie. 115-125% if that unit percentage of the whole.

We're still fighting to get the entire holdback released to my buyer.Bottom line for you - and this is not legal advice as I am not an attorney:1.

@Jay Hinrichs,>>I am talking about buying a one off note off of FCI exchange.. not investing in a Pool.. but not sure about back end help just read the patch of land threads with all their defaults they have more defaults in one month than I have had in 6 years LOL.Patch of Land is bad (or to be more accurate, the investors in it say it's bad, since the platform itself will not release the statistics.

@Brandon MalbroughHey Brandon, it's probably fair that you due a full due diligence on your partner and have a JV agreement negotiated and signed before releasing a copy of the contract.  

I know with a regular subject to, once you take over the property, you get the original borrower to sign a release of info to send to the lender in order to get you access to the loan info so you can manage the loan with the lender.If I find a property that is in probate that the PR is willing to sell subject to, how would I go about getting the lender to release the loan info to me (if the PR doesn't have the login info to the lender's website)? 

I would get the ice-maker fixed or replaced and then have her sign a release that makes any future repair on her.

So if you have $250k into a property and in 20 years you sell for 500k, the $250k gain is potentially tax free.You're spot on regarding the regulations, final regulations haven't been released but I had a conversation with the IRS as well as with the attorneys we're working with and they suggest the same thing, setup the entities in accordance with the rules written, regardless of the vagueness, and if regulations come down that are contrary to partnership agreements, corporate resolutions, etc. then we'll need to amend documents as necessary.