What forms are needed for a subject to deal?

2 Replies

Hello,

I was wondering if anyone had a good resource for finding the forms needed to complete a subject to deal in Indiana?  I know that it is important to have an attorney review them, but I wanted to have something that I could use to take to the attorney in case they are not familiar with that type of transaction.  Or, if someone knows a good attorney in Indiana that would be able to assist me with this, that would also be awesome!  Thank you everyone for your time and assistance!

@Jeremiah Ashe - I nearly built my forms from scratch with my lawyer.  There are a few people around the country that have good templets but finding an Indiana specific one is tough.  I don't know anyone that focuses on subject to in Indiana in a major way.  I know they are there but they aren't advertising their subject to knowledge.  

@Jeremiah Ashe   Joe Crump in Indianapolis has done hundreds of SubjectTo deals, and knows all the deal structures commonly used, and his "Hierarchy of Deal Structures" is very logical. He has a longstanding YouTube channel, with hundreds of good 'edu' videos. Also Ron LeGrand has his "Gold Club" website with 140ish "forms and agreements" for $60.00 a month, and you can 'download' ALL of those documents! 

I have several forms checklists, but they tell you what docs are required to do specific terms deals... You'll need a Purchase and Sale agreement, Authorization to Release Information (to contact the bank, etc.) to do a title search, and definitely know the local "case law, on the books," so utilize a good RE attorney, who SPECIALIZES in these deals. (ONLY!) What you won't learn (initially) is to have either an LLC(s) in NV and/ or WY for ownership autonomy, then take possession into a "land trust," so the lender(s) are NOT made aware of an obvious, "ownership change!" (Then either get a new insurance policy? Or keep the existing ins. in place??) Also check- out Clint Koons on YouTube for more on LLCs, LTs and ST deals, etc., as I'm certainly not purporting to give you any "legal advise."