Legal Question in Real Estate Law in Florida
When a loan is transfered is the originator paid off right away or a later date?
Asked on 8/29/17, 6:42 pm
1 Answer from Attorneys
Barry Stein
De Cardenas, Freixas, Stein & Zachary
This questions is missing sufficient detail to answer it. A loan transfer suggests that the originator is transferring it. This said the terms of the transfer control the timing of payment. The paperwork is all important. there are no standards that apply. Normally the transferer receives value immediately but the payments can be made over time. seek legal help with all your paperwork.
Answered on 8/30/17, 1:10 am