Ways to preserve good Title without taking Title
So I’ve heard a number of people talk about lease options, etc. I’ve never bought on a lease option. I have sold on a lease option before and I’ve had some pretty positive success with people getting their own loan and cashing me out.
So let’s say I had a seller that was fine to do a lease option. Let’s say hypothetically they were willing to sign a lien / deed of trust / mortgage in my favor to protect my position.
Also, let’s say that the person that was selling and did the deed of trust to secure assumption ended up having a judgment at a later date.. could I foreclose on the deed of trust / mortgage to clear title?
Also, I’m assuming that this would keep them from being able to sell it to someone else after making an agreement with me..
Is that something you have seen done or maybe there’s a Title person that would have a better viewpoint??