Georgia | Real Estate Law
11/09/09, 6:24 pm
Legal Question
I loaned a business partner 75,000 and he secured it with his house. He does have a first mortgage on the property but there is plenty of equity in the residence. I am giving him 12 months to pay this loan back, so how do I legaly get on the deed with the agreement that this loan will be payed back
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11/14/09, 6:30 pm
Legal Answer
You file the appropriate documents with the county real estate records, after completing all necessary paperwork for the loan and security deed. Based on your question, you need to have a lawyer do it. Doing it wrong is a $75,000 gamble.
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Scott B. Riddle, Attorney Suite 1530 Tower Place, 3340 Peachtree Road Atlanta, GA 30326
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