Legal Question in Business Law in California
notes
Do I need a license to transact notes in california? For example:
If I find an owner of a note secured by real estate can I find an investor to buy the note at a discount and make a commission (finders fee) for bringing the seller and the buyer together? will this type of transaction require I obtain a license? If so, what type?
2 Answers from Attorneys
Re: notes
To avoid criminal charges, you must be either a licensed real estate broker, or licensed mortgage broker, each of which has substantial education requirements, plus passing an FBI background check and state licensing test, plus regular 'continuing education' requirements.
Re: notes
What you just described is a mortgage broker. Yes you do need a license under the California Business and Professions Code.
Related Questions & Answers
-
Private Movie Viewing I would like to open a business and show movies that can be... Asked 5/21/07, 11:25 pm in United States California Business Law
-
Relocation Reimbursement I would like to know if I am required to pay back a... Asked 5/21/07, 7:24 pm in United States California Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
