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Old 11-10-2016, 11:21 AM
 
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If someone buys a property on a C4D, can they divide the property and sell parcels before they pay off the contract?? IOW, before they actually own the deed.....
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Old 11-10-2016, 11:54 AM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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No.
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Old 11-10-2016, 11:37 PM
 
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You might be able to--but only if the contract holder agrees to the division. Otherwise, "no".
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Old 11-11-2016, 07:22 PM
 
Location: Needham, MA
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Quote:
Originally Posted by jackmichigan View Post
You might be able to--but only if the contract holder agrees to the division. Otherwise, "no".
Technically then wouldn't it be the seller who is the one subdividing?
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Old 11-11-2016, 07:26 PM
 
Location: Lone Mountain Las Vegas NV
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Comeon the answer is NO.

Unless your mother is on the other side.
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Old 11-11-2016, 07:45 PM
 
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Quote:
Originally Posted by jackmichigan View Post
You might be able to--but only if the contract holder agrees to the division. Otherwise, "no".
This.
It must be done with deed holder's concurrence.

And the amount garnered would be applied toward the contract for deed. Because the contract holder does not wish to end up with less value/property guaranteeing the debt. I have seen this done to pay off the contract.
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Old 11-12-2016, 07:41 AM
 
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Originally Posted by MikePRU View Post
Technically then wouldn't it be the seller who is the one subdividing?
Usually, that would probably be the case. In some instances, they might be listed jointly since they both have an interest in the property.
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Old 11-12-2016, 10:08 AM
 
Location: Lone Mountain Las Vegas NV
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You can sell a part of any property as long as the deed holder agrees. That is because the deed holder sells the property.

The Contract holder has a right to whatever is provided in the contract. And that would have to be respected by the deed holder.

The contract holder needs to be cautious. Can end up violating some States RE laws. You can't gain financially on an RE sale without a suitable license.
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Old 11-12-2016, 10:54 AM
 
7,006 posts, read 8,520,364 times
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Quote:
Originally Posted by lvmensch View Post
You can sell a part of any property as long as the deed holder agrees. That is because the deed holder sells the property.

The Contract holder has a right to whatever is provided in the contract. And that would have to be respected by the deed holder.

The contract holder needs to be cautious. Can end up violating some States RE laws. You can't gain financially on an RE sale without a suitable license.
Huh? What do you mean by that?

In some states, there may be a restriction on the number of sales an individual may do in a calendar year without a license but, generally, an individual has significant leeway in the financial gains they make through real estate sales...with no license required.
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Old 11-12-2016, 11:27 AM
 
Location: Lone Mountain Las Vegas NV
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Quote:
Originally Posted by jackmichigan View Post
Huh? What do you mean by that?

In some states, there may be a restriction on the number of sales an individual may do in a calendar year without a license but, generally, an individual has significant leeway in the financial gains they make through real estate sales...with no license required.
Not if they do not own the property.

We have a friend who is a starter at a fancy golf course. He finds RE buyers once in a while and got a RE license so he could legally refer them to an agent.
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