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Lien on the House |
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Can the title/deed to a home be transferred while there is a lien on the house? |
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Yes, if the buyer agrees to take the property with that debt out against it, no reason why title can't be transferred. But if that lien is a mortgage, most mortgage documents say that the whole debt may be declared immediately due and payable when there's a change in ownership. Better think about what would happen then. Could the new owner pay off the whole loan at once, or could the property be lost to a foreclosure? If the lien is back taxes, same question -- could the new owner pay them off or might there be a tax foreclosure? |
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Edith
Originally published on September 17, 2007 |
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