Discussions

Dry Double-Close

Posted by Fritz Barnes on September 21, 2011 at 3:28pm

Hello,

 

I recently heard Nick Tang in a presentation state that a law was passed in 2006 making a dry double-close illegal. As I understand it, a dry double-close is where the A-B transaction is funded by the money brought to the table for the B-C transaction--in other words, B need not bring any money.

 

I meant to ask, but didn't, if that was a Federal law or a NJ law.

 

Anyone?

 

Thanks,

 

Fritz

 

You need to be a member of Real Estate Mixer to add comments!

Email me when people reply –
Follow

Featured Discussions

Categories

Featured Events

Kevin S Clark updated their profile
Jul 1, 2023
Kevin S Clark and DAVID WAYNE are now friends
Jul 1, 2023
Kevin S Clark updated their profile photo
Jul 1, 2023
Rob Beeman left a comment on Landlord Tenant & Squatter Group
"Although this comment is NOT related to tenants or squatters, it is related to real estate investing, so please forgive me if it is NOT supposed to be posted here. None the less, perhaps someone might find it beneficial for their investing…"
Nov 15, 2022
Rob Beeman posted a discussion
Harness the POWER of NETWORKING!
Real Estate Investing Knowledge & Networking VIRTUAL Event.Capitalize on the opportunity to gain knowledge and awesome networking in multiple ways at this FREE VIRTUAL Knowledge & Networking Event on Tuesday December 13th at 7PM EST!The meeting is…
See More
Nov 15, 2022
Rob Beeman updated their profile photo
Nov 15, 2022
Rahul Patel updated their profile
Apr 29, 2022
Vivian Rivera updated their profile
Feb 18, 2022
Rob Beeman updated their profile photo
Jan 17, 2022
Rob Beeman updated their profile
Jan 17, 2022
Rob Beeman posted a discussion
A Way of Giving Back to Benefit Others
Have an interest in real estate investing?Then we welcome you to subscribe to our FREE online newsletter delivered to the reader's email.So many mistakes are made because of lack of knowledge, lack of resources or lack of contacts! Mistakes often…
See More
Jan 17, 2022
Jean-Paul Gerosa updated their profile
Nov 6, 2021
C updated their profile
Oct 18, 2021
T Craig Barry updated their profile
May 28, 2021
Vijay Kumar posted a discussion
Bank Guarantee (BG) / StandBy Letter Of Credit (SBLC)
We have Fresh Cut Bank Guarantee (BG) / StandBy Letter Of Credit (SBLC) specifically for BUY/LEASE Issuance by HSBC London / Hongkong, Barclays Bank, Deutsche Bank AG Frankfurt, and many other 25 top AA rated Banks. We also secure funding to…
See More
Jan 1, 2021
Eva Jeani updated their profile
Nov 9, 2020
More…
Testing one 2 3