Can a buyout be split between closing and secured payments? | NC

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Q: Can a buyout be structured with part of the payment at closing and the rest secured by a deed of trust? A: Yes — co-owners can often settle that way. One owner pays part of the buyout at closing, then signs a promissory note for the remaining balance, and that balance is secured by a deed of trust recorded against the property. The agreement should clearly state the total price, any credits…