Legal Question in Real Estate Law in Massachusetts

Re: Selling a home but keeping the deed

What you are referring to is called a land contract. It provides for you to keep the financing. Such a transaction is considered a sale and would if discovered result in your Mortgage being called immediately.

This form of transaction is commonly used in the Midwest and Atlantic states but is rarely if ever used in New England. Fortunately, I am familiar with this type of transaction having started a carreer in MI.

If you have more questions, please feel free to contact me without obligation.

Re: Selling a home but keeping the deed

I'n not totally sure what you're getting at here, and it would help to have more explanation. Ownership of a property is given by deed. Generally, of your name is not on the deed, you have no ownership rights. But - you can make a contract with someone that they have a right to live in your home (that is usually a lease or tenant at will); that they have a right to cross over the property (an easement), etc.

You can even sell the right to live in a house for the rest of a person's life

while you remain on the deed (life estate.) Feel free to e-mail me at [email protected] if you wish to discuss precisely what it is you want to do and how that can be accomplished.

Jerome Aaron