Legal Question in Real Estate Law in Illinois

contract sale

i would like to know if its legal for me to sell my house on contract,even though i still carry a mortgage?


Asked on 10/19/06, 9:09 pm

1 Answer from Attorneys

Re: contract sale

It is not against the law, so it is legal. However, most mortgages have a due on sale provision. In other words if your mortgage company learns of your contract sale, your mortgage can be accelerated and full payment required.

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Answered on 10/19/06, 10:12 pm


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