Disclose No Contest Plea
Summary
In Florida, a no contest plea resulting in adjudication of guilt must be disclosed as a conviction on applications. Review your DSCR loan terms for any selling restrictions. Consult legal advice for personalized guidance.Full Conversation
I think Disposition Adjudicated
Thank you for providing that information. In Florida, a plea of no contest (nolo contendere) can still result in a conviction if the court adjudicates you guilty.
Could you confirm if the court entered a formal judgment of guilt when you pled no contest? This will help determine if it must be disclosed as a conviction.
Plea(s)
*/*/* Amended Plea (Reason: Change of Plea,)
Change of Plea-Nolo Contendere
*/*/* Plea
Written Plea Not Guilty-Jury
Disposition(s)
*/*/* Disposition
Adjudicated
In Florida, if you pled no contest (nolo contendere) and the court adjudicated you guilty, you must disclose this as a conviction on applications.
Would you like more information on how this might affect your record or any steps you can take to address it?
If I have a DSCR loan can I sell my house as a house or cash flow property?
It seems like you have two separate questions. Let's address each one:
Disclosure of Plea in Applications
- In Florida, if you pled no contest and were adjudicated guilty, you must disclose this as a conviction on applications.
Selling a House with a DSCR Loan
- Generally, you can sell your house regardless of the loan type. However, the specific terms of your DSCR (Debt Service Coverage Ratio) loan might have conditions. Review your loan agreement for any restrictions.
Would you like more information on either of these topics?
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