[WSBARP] Real Estate Contract Guarantee??

[Scott Thomas]

Could buyer assign REK to business, and as a condition of assignment remain
responsible for underlying obligations?

 

From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Paul Neumiller
Sent: Friday, September 29, 2017 10:09 AM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Real Estate Contract Guarantee??

 

Doe such a creature exist?  Client is a seller-financed owner of property
who wants to use a Real Estate Contract instead of a note and deed of trust.
Buyer wants to put property into the name of buyer's business.  Is there a
document/instrument out there that is comparable to a third-party personal
guarantee of a promissory note?  Conceptually, I'm not sure that this even
works but client wants to make sure it hurts the buyer personally if buyer
decides to walk away from the property.  -Paul Neumiller 

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