Legal Question in Real Estate Law in Arkansas
Moraged Rental property
I have a Property that I rent out. I would like to sale the property with owner financing,But the property is not paid for.I have a Morage on the property at the local bank. Does the bank have to be paid in full before I can do this? And if not how would I go about it?
-
Asked on 12/03/06, 12:52 pm
1 Answer from Attorneys
Harvey Harris
Harris Law Firm
Re: Moraged Rental property
Generally, you can satisfy the mortgage at the closing of the sale. You need to verify that with your bank, though. Do NOT just accept my opinion. My opinion is based on how it is usually done.
Answered on 12/03/06, 7:50 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
