Q: In an owner finance situation is a Vendor's Lien Deed and Promissory Note the only legal documents required?
Or is a Warranty Deed also required?
A: A vendors lien deed is the instrument of conveyance in the property. A warranty deed is a different kind of deed and would not be used when a VLD is executed. The Vendor's Lien deed contains warranties. If you don't really understand all of this, you should go see a lawyer. Using deeds taken off the internet will get you in a world of trouble. Strictly speaking these are the two documents that you need. However, you should never buy property without a title search and a survey. When people buy property without these two things, they cause a lot of problems -- which keeps lawyers busy trying to correct mistake made decades before.
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