Legal Question in Real Estate Law in Hawaii

i am 50% title owner of property with my ex. he wants me to sign a warranty deed and a property money mortgage with a promissory note to pay me back over a period of time...is this safe to do or should i get payment first then sign deed?


Asked on 11/05/10, 2:53 am

1 Answer from Attorneys
Jon Zahaby Tour bus, scenic and sightseeing, operation

If you hold only a mortgage/note and are no longer on title and your ex fails to make payments, then you will be forced to litigate in foreclosure in order to get your $$. So yes, I agree with you a lease option or agreement of sale would be better in your situation and you should not convey the property over to your ex until he has paid in full. Aloha, Jon A. Zahaby, Esq.

Read more
Answered on 11/10/10, 2:35 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Hawaii