the redemption rights expired. The rights were freely transferable and the former owners werehappy to get a few bucks. I was more like a sleazy lawyer, you have a legal problemhere is the price I will settle for the redemption rights, pay up and next time buy them before you rehab. Actually I started this as a way to help a friends kids make some money while attending college there. I think they kept it up for quite awhile after they graduated. Plus the investor got an education and it wasn't to expensive.
Basically, what I came down to is that you start with the general premise that absent specific legislative restriction most property rights are alienable. This means there is a policy that you should be able to sell anything which would include redemption rights in this situation. However, you need to really step back and view in the abstract what you are actually buying when you purchase redemption rights.
money and interest as provided in KRS 426.220, and be entitled to
the prior purchaser his Nike Air Max 95 Ultra Se Neon
Stat. sec. 1686.
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Gary, I think this is a fascinating strategy. I have researched it in the past and just went through some of my old notes. It is difficult to talk on all points with respect to all states (title theory v. lien theory) and (judicial v. non judicial).
I currently trying to contact one such owner, and will post my results.
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
The right of redemption may be sold under The land shall still be subject to
The second point is the execution of proving standing to redeem. I would imagine a certified copy of your recorded quit Nike Air Max 95 Ultra Green claim deed should evidence standing in most judicial states. However, I would think you would some how have to become a party to that lawsuit. Perhaps just filing a motion to be made party defendant would suffice.
Buying Right of Redemption
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It important for people to know there are pre and post redemption states only and then there are states who have both. In GA for instance there is no post right of redemption so you don worry about it.
redemption by the defendant, from both purchasers, for one year from the first sale. The
For awhile I was buying redemption rights in a few states, surprising howmany investors started rehabbing properties before Nike Air Max 95 Volt
I think it is a very interesting strategy but when it comes down to it is it no different than trying to buy pre foreclosures directly from homeowners (sounds less cutting edge when you put it that way). I would love to hear some stories of people successfully executing the strategy and redeeming as a 3rd party successor to the right of redemption. Unfortunately for me I never made it past the proverbial drawing board. Air Max Orange Grey
I can see in states with very long post redemption rights you want to wait or buy the redemption rights. My friend would give the people a few k and then had conditions tied to it. It been years and years ago and he has moved on to building and selling companies off. I can remember the specifics of how he set it up or I would post it here.
I have a friend who use to do a bunch of flips years ago and was in a redemption state.
When you give a mortgage deed to a lender you are basically giving them a bundle of rights and retain for yourself the equitable right of redemption. Thus, if you conveyed a quit claim deed to a 3rd party that person would only be getting what you own. And what do you own? The equitable right of redemption. The reason for this is because when you gave the mortgage deed you gave away your interests in the property subject to defeasance. The defeasance incident would be the redemption of the property. This gets complicated when you talk title theory v. lien theory. However, the basic point is that I think you can make the argument that you can convey redemption rights simply through a quit claim deed and don need a special instrument to evidence your right to redeem.
purchaser of the right of redemption may, before the end of a year from the first sale, pay
the land, subject to the rights of possession and redemption held by the defendant in theEffective: October 1, 1942
I have already talked to my lawyer, and he says I can do what I talking about.(So does the Master Commissioner, the person that sells foreclosed property in KY) I bought some foreclosed property at auction and was advised by the Master Commissioner to either acquire the right of redemption from the former owner, or wait 1 year until their right expires. That the conversation that got my wheels turning.
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