Note Owner’s
Manual

Everything You Need
to Know About Buying,
Selling and Owning
Privately Held Mortgages,
Trust Deeds & Notes

A Complete Guide with Glossary
& Payment Record Keeper

Disclaimer

This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the complete understanding that the publisher is not engaged in rendering legal, accounting, or other professional services. If legal advice or other expert assistance is required, the services of a competent professional should be sought. From a Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers.

Why an Owner's Manual?

This manual is designed to assist people who will be selling property or who are receiving monthly payments on a property they have already sold (mortgages, trust deeds or land contracts).

Mortgages, trust deeds and land contracts can be excellent investments. These are all referred to as "Seller Take Backs" or privately held loans (mortgages, trust deeds, etc.). But, like anything else, it pays to know a few basics...pitfalls to avoid and opportunities to explore.

Please take a few moments to read this manual. It is full of valuable information from "What to do if the purchaser fails to make a payment on time," to "How you can sell some or all of the payments on your loan for cash."

We suggest you keep this manual in a safe place along with your land contract for as long as you receive monthly payments. A "Payment Record Keeper" is included at the back of this manual to assist you in keeping accurate records on your land contract, trust deed or mortgage.