Legal Question in Real Estate Law in California

do i have to transfer, title, insure, and pay taxes on a ca owner finance wrap loan


Asked on 12/01/09, 3:12 pm

1 Answer from Attorneys

Bryan Whipple Bryan R. R. Whipple, Attorney at Law

I'm afraid I don't understand the question.......if you are providing seller financing to a buyer of your property, you will obviously be transferring title at close of escrow, and as a lender, you may want to purchase lender's title insurance, but if you are confident you have good title to the property you're selling, it seems unnecessary. Also, not sure what kind of taxes you're concerned about. If you are receiving interest in the future because of having made a loan, sure, you'll have to declare that interest as income on your 1040.

If you could give us more than just one line of information, that would allow a better and more complete (and more accurate?) response.

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Answered on 12/06/09, 3:34 pm


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