There must be so many of then the Clerk has set up the term as an instrument type search term. 

I think the problem sometimes the bp community runs into is the people most attracted to these ideas are often the least financially sophisticated people, they don’t understand risk, they don’t understand cap rates, they don’t understand debt structure and instruments, they often don’t even understand basic financial concepts.

WA actually has one of the most unique instruments to convey SF. 

It is not a debt instrument, you can put it in your Red Flyer wagon and haul it away when disaster strikes.Or drive it away, whichever 

If you did not have them sign a note and a security instrument that will make it 10x tougher.

It's an amazing instrument IMHO.I should mention - an experienced investor friend told me he only gets mortgages/refinancing on properties, never HELOCs, because any line of credit limit can be shrunk down suddenly by the lender, any time they want to. 

They must be notarized, the notary attests to the fact that the persons named in the foregoing instrument were in fact the persons exeuting the document.

A judge would have to decide if the payment method was an "other traceable or negotiable instrument." 

According to Ron LeGrand in his state of Florida, the instrument that is used is called a wraparound mortgage. 

It can simply say: ASSIGNMENT, For and In Consideration of four percent of the Option Price hereinabove mentioned, the receipt of which is hereby acknowledged being paid in hand by the signatures below, the Optionee and Holder of this Option Agreement hereby grants, bargins, sells and sets over unto _____soandso, all of Optionee's rights, title and interests, at law or in equity, in and to this Option Agreemeent as of the day and year written below.ENDORSEMENT: ___________(and the Optionee signs) Date___You may have the buyer then sign as an acknowledgment.I would not file for record the actual Option Agreement, but a Notice of Option that would not contain the option amount to buy or any other considerations paid, but it would include the term of the option.Now, I'm sure that many investors have all sorts of assignment contracts for the sale of the option and disclosures but a simple endorsement with the assignment stated is all that is necessary to assign an instrument, much like endorsing a check over to another payee.