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<p class="MsoNormal">All, <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I have a PC seller that sold a property on a seller financed RE contract a number of years back. There’s an executed promissory note and deed of trust. The RE contract contemplated a fulfillment deed to be recorded when the balance is paid
by buyer. There is still a balance owed, but seller wants to assist buyer by transferring title now so buyer can apply for flood insurance. Insurance company is saying she can only apply if she is the title holder.
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<p class="MsoNormal">Any pitfalls, considerations, or problems if seller transfers title now and keeps receiving payments via the promissory note?
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<p class="MsoNormal">Thanks,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="font-size:11.0pt;mso-ligatures:none">Timothy C. Lehr<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:11.0pt;mso-ligatures:none">Attorney & Partner<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;mso-ligatures:none"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><img width="191" height="69" style="width:1.9895in;height:.7187in" id="Picture_x0020_1" src="cid:image001.jpg@01DC8AAF.231FF8C0"><span style="mso-ligatures:none"><o:p></o:p></span></span></p>
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<p class="MsoNormal"><span style="font-size:11.0pt;mso-ligatures:none">p: 360.855.0131<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;mso-ligatures:none">e: <a href="mailto:timothy@stileslaw.com">
timothy@stileslaw.com</a><o:p></o:p></span></p>
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