What if my option holder suffers judgement?

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  • Donna Ross
    May 18, 2010 at 4:10 am
    Donna Ross

    I am prepping to make offer on sfr, where my friend will have leae-option on the home…I will have an option on his option for half interest….

    What happens if he is sued/a judgement filed against him during the term?

    Can I protect myself in anyway?

    d

    Anonymous
    May 18, 2010 at 6:44 am
    Anonymous

    You should record a deed of trust or mortgage to secure your option interest in the property.

    Additionally, you can transfer title to a land trust prior to entering in to the agreement. the beneficial interest in the trust can be divided 50/50 for simplicity

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