Legal Question in Real Estate Law in Oregon

does a warranty deed cancel out the original owners obligation to the lender


Asked on 7/11/14, 1:27 am

1 Answer from Attorneys

Robert Mauger The Law Office of Robert L. Mauger

No. If the obligation to the lender isn't paid, the lender will foreclose on the original owner's promise (mortgage, trust deed, or land sale contract). Anything recorded on the property after the foreclosure will be wiped out. Otherwise, it would be pretty easy to get out of a home loan if all you had to do was transfer the property to someone else.

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Answered on 8/05/14, 4:28 pm


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