Legal Question in Business Law in California

Unfortunately you don't easily, unless he is willing to abide by the contract and give you a deed to the property, because you didn't go about the transaction properly to be able to force him to.

When you make a loan like that you are supposed to have the borrower give you a note secured by a deed of trust, and the deed of trust itself. You then should have recorded the deed of trust in the county in which the property is located. Had you done that, you would now be able to hire a trustee's sale service and in about 90-days you would either have possession of the property or if someone else bid the full amount due under your loan, you would have your cash.

Now, instead, you have to sue on the loan agreement and hope your documentation entitles you to an equitable lien and foreclosure. If not, you will get a judgment on the debt and have to turn that into a lien and then obtain a writ of execution on the property and have it sold by the sheriff. On average that will take at least a year. Maybe you'll get lucky and the threat of a lawsuit, or the lawsuit itself will get him to settle with you.

You need a lawyer. I have facilities in Carlsbad to assist my Southern California clients. If you would like further assistance please let me know.