looking for a Notice of Interest Form for equity partner

Salt Lake City, Utah
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looking for a Notice of Interest Form for equity partner

LeeAnn Doppel
Residential Real Estate Agent · Salt Lake City, UT · Member since 2014 · 11 posts · 1 vote

Hi

I'm looking for a Notice of Interest Form for an equity partner, so we can file it at our local recorder's office. 

The equity partner has loaned funds towards flipping/improvements of a home wants to make sure they get paid when the house sells.

I don't know if a handwritten agreement along with our equity partner contract will be enough to file it.

I am in Utah.

Anyone have this form, or any advice?

Thanks

LeeAnn

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  • Chris SeveneyBusiness Member
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    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    1y
    Quote from @LeeAnn Doppel:

    Hi

    I'm looking for a Notice of Interest Form for an equity partner, so we can file it at our local recorder's office. 

    The equity partner has loaned funds towards flipping/improvements of a home wants to make sure they get paid when the house sells.

    I don't know if a handwritten agreement along with our equity partner contract will be enough to file it.

    I am in Utah.

    Anyone have this form, or any advice?

    Thanks

    LeeAnn


    If they lent money then there should be a note and mortgage. That is what would get recorded. BUt it is unclear if their equity is a loan or own part of the company. If its true equity there is nothing to record its your agreement (like an operating agreement or JV agreement) but those do not get recorded.

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    • LeeAnn Doppel
      OP
      Residential Real Estate Agent · Salt Lake City, UT · Member since 2014 · 11 posts · 1 vote
      1y
      Quote from @Chris Seveney:
      Quote from @LeeAnn Doppel:

      Hi

      I'm looking for a Notice of Interest Form for an equity partner, so we can file it at our local recorder's office. 

      The equity partner has loaned funds towards flipping/improvements of a home wants to make sure they get paid when the house sells.

      I don't know if a handwritten agreement along with our equity partner contract will be enough to file it.

      I am in Utah.

      Anyone have this form, or any advice?

      Thanks

      LeeAnn


      If they lent money then there should be a note and mortgage. That is what would get recorded. BUt it is unclear if their equity is a loan or own part of the company. If its true equity there is nothing to record its your agreement (like an operating agreement or JV agreement) but those do not get recorded.


      0Reply
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