Legal Question in Real Estate Law in California
I want to place a voluntary lien on my property to assure payment of a large loan from a family member. What form can I use in California? Thanks
2 Answers from Attorneys
The "short form deed of trust" would be a leading candidate, but selecting and filling in forms for a self-acknowledged "large loan" sounds to me like something where a lawyer's input is desirable, both to adivse on the soundness of the loan transaction itself and to oversee the correctness of the "filling in the blanks" on a selected piece of stationery. An escrow firm or title-insurance company could provide some forms and related assistance, if you are confident of where you're going, but legal assistance is preferable unless you are adventuresome.
I agree with Mr. Whipple that a couple of hours of attorney time might save you a world of trouble down the line, but the way to secure a loan with property is a note and deed of trust, just like if you were getting a loan from a bank, and most title companies can help you with both forms.
Related Questions & Answers
-
What is the time limit for getting rid of an ex roomates belongings? Asked 11/18/10, 3:44 pm in United States California Real Estate and Real Property