The reason I asked how you took title to the properties is if you read my Article you will have an understanding of what is going on with the Consumer Protection agency.
Taken in part:
"North Carolina has no problem with Subject To investing as long as the following guidelines are adhered to:
The problem with the use of a “Land Trust” as a means of concealing a violation of the “due-on-sale” (DOS) clause is that even where the designated trustee is a real person or entity, the identity of the actual beneficiary is concealed or obscured.
This can constitute a deceptive, misleading or unfair trade practice in violation of Chapter 75, N.C.G.S, and, in the opinion of the Commission legal staff, is a circumstance tending to show the person actually controlling the trust is attempting to act as a real estate broker without a license.
Much the same is true for agreements, such as installment land sale contracts or lease/option or lease/purchase arrangements that are not properly recorded in a timely manner in the chain of title.
No reasonable person or prudent investor would fail to immediately and properly record a document transferring an interest in title due to the risk of loss associated with the failure to timely and properly record.
A person or firm truly dealing on their own account would typically obtain a deed, option or contract, properly notarized and recorded, in order to protect their investment.
Failure to do so is very convincing evidence that there is no real investment and that such person or firm is no more than an agent without a license.
The Subject To transaction is a matter of public record. The deed between the seller and buyer must be recorded in a person’s name or corporate entity."
The above State Statutes have been used to cause creative investors using Land Trusts serious problems in the state of North Carolina when doing Subject To deals. If you used a Land Trust to hold title to the properties, then you are going to need legal representation.
John $Cash$ Locke