If this does work out than GREAT you lucked out and are about the LUCKIEST PERSON ON THIS SITE. But hows the bank gona transfere Title without his signiture on the Title? Unless he already signed it and gave it to the bank to transfere to you when the note was paid off.
I do not think the banks would take this responsiblity on to HOLD A TITLE, in cases like this it usually has to be done in front of a Notary not that both parties have to be there at the same time, but if this guy does not sign the Title over to you its not gona work. I could be wrong maybee others know more than I.
I am pulling for ya, please let us all know when the stress is released.....