Do I need an "all exclusive promissory note"

9 Replies

When you pay someone's mortgage, do you use an"All promissory Note"? I read its a document that tells the seller that you agree to pay all of their liens. But, im not sure if a mortgage is considered a lien.

@Chris Seveney "all exclusive promissory note" is a document used when you pay someone else's liens, I dont know if I need it when I make someone else's mortgage payments (subject to) or when a person has liens

Originally posted by @Fili Aguirre:

@Chris Seveneyoooh I read the document again and it says "all inclusive promissory note" the document is for Utah not California

YUP that's what Chris and I said up in the thread.. they started in CA .. my dad had a company called CA wrap.. and the all inclusive deed of trust was created in the early 80s to wrap low interest rates when rate went to 18%..  we did hundreds of them if not over a thousand its a great Deed it protects the buyer and seller..