Now, the way we're partnering is by doing debt instrument for a fixed term at a fixed rate of return.

Whoever owns the note can theoretically profit when a lower interest note is paid off, and the money is lent out at a higher rate.However, the decision to call a note for violation of a covenant in the Mortgage instrument my also include acknowledgement of one or more possible downsides1.

MBS are instruments, they're not why the the GFC happened.

Borrower must occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and must continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent will not be unreasonably withheld, or unless extenuating circumstances exist that are beyond Borrower's control." 

Answer - Novation per google is .....Novation is a legal instrument that replaces an existing contract with a new one, often involving a change of parties or obligations.

Rod‘s program has been absolutely instrumental our my success.

Our strategy has been the latter and that's been instrumental in helping us scale our portfolio. 

You could provide a license to work or another legal instrument for the project to proceed, but physically close only when you are ready to complete the exchange.

.: Quote from @Jay Hinrichs: never heard it called a wrapper before.Goggle all inclusive Deed of Trust  California document and read it.. this is the proto type wrap instrument created in the late 70s  and we used it well over 200 times. 

Real estate isn't a financial instrument, it's a physical investment.