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steve55121

Mortgage To Secure Position

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anyone.

 

I was wondering when you do a performance mortgage if you have to pay deed tax on that? I'm on my states department of commerce and I see several blank mortgages documents but they all mention deed tax on the top of the form.

 

When I do a lease option I want to be able to secure my position with a mortgage so when my tenant buyer closes they can do so with the original ower.

 

-Steve

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Steve, I do not believe you will need to pay deed tax on a Performance Mortgage. However, it may very well be a state specific issue, in which case you should check with a local title company.

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